Hamlin Capital Management LLC Boosts Position in Cinemark Holdings Inc. (CNK)
Hamlin Capital Management LLC boosted its position in shares of Cinemark Holdings Inc. (NYSE:CNK) by 5.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,418,181 shares of the company’s stock after buying an additional 71,337 shares during the period. Cinemark Holdings makes up 2.5% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 25th largest position. Hamlin Capital Management LLC owned about 1.23% of Cinemark Holdings worth $51,707,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. Capstone Asset Management Co. raised its position in Cinemark Holdings by 2.8% in the second quarter. Capstone Asset Management Co. now owns 9,862 shares of the company’s stock worth $360,000 after buying an additional 270 shares during the period. First Dallas Securities Inc. raised its position in Cinemark Holdings by 4.4% in the second quarter. First Dallas Securities Inc. now owns 8,363 shares of the company’s stock worth $305,000 after buying an additional 350 shares during the period. Teachers Advisors Inc. raised its position in Cinemark Holdings by 0.4% in the first quarter. Teachers Advisors Inc. now owns 93,697 shares of the company’s stock worth $3,357,000 after buying an additional 404 shares during the period. Carnick & Kubik LLC raised its position in Cinemark Holdings by 3.0% in the first quarter. Carnick & Kubik LLC now owns 17,996 shares of the company’s stock worth $645,000 after buying an additional 520 shares during the period. Finally, Arizona State Retirement System raised its position in Cinemark Holdings by 2.3% in the first quarter. Arizona State Retirement System now owns 53,670 shares of the company’s stock worth $1,923,000 after buying an additional 1,200 shares during the period. Institutional investors own 88.53% of the company’s stock.
Shares of Cinemark Holdings Inc. (NYSE:CNK) traded up 0.52% during midday trading on Wednesday, reaching $38.43. The company’s stock had a trading volume of 294,305 shares. The stock’s 50 day moving average price is $38.27 and its 200 day moving average price is $36.34. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 20.56 and a beta of 1.04. Cinemark Holdings Inc. has a one year low of $26.56 and a one year high of $39.45.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Cinemark Holdings had a net margin of 7.58% and a return on equity of 19.68%. The business earned $744.40 million during the quarter, compared to analysts’ expectations of $746.05 million. During the same quarter in the prior year, the firm earned $0.61 EPS. Cinemark Holdings’s revenue for the quarter was down 6.9% on a year-over-year basis. Analysts predict that Cinemark Holdings Inc. will post $1.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Wednesday, August 31st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Monday, August 29th. Cinemark Holdings’s payout ratio is 58.06%.
CNK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cinemark Holdings in a research note on Sunday, July 10th. Loop Capital initiated coverage on Cinemark Holdings in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $44.00 price objective for the company. Wedbush reaffirmed a “neutral” rating and issued a $40.00 price objective on shares of Cinemark Holdings in a research note on Thursday, September 22nd. Credit Suisse Group AG initiated coverage on Cinemark Holdings in a research note on Monday, June 13th. They issued a “neutral” rating and a $33.00 price objective for the company. Finally, Drexel Hamilton reaffirmed a “buy” rating on shares of Cinemark Holdings in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Cinemark Holdings presently has an average rating of “Hold” and an average target price of $40.46.
Cinemark Holdings Company Profile
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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