BTR Capital Management Inc. Sells 3,784 Shares of Cinemark Holdings Inc. (CNK)
BTR Capital Management Inc. decreased its stake in Cinemark Holdings Inc. (NYSE:CNK) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,614 shares of the company’s stock after selling 3,784 shares during the period. Cinemark Holdings comprises 2.2% of BTR Capital Management Inc.’s portfolio, making the stock its 14th largest position. BTR Capital Management Inc. owned 0.22% of Cinemark Holdings worth $9,632,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of CNK. Advisor Group Inc. bought a new position in Cinemark Holdings during the second quarter valued at $121,000. Bessemer Group Inc. raised its position in Cinemark Holdings by 99.9% in the second quarter. Bessemer Group Inc. now owns 3,346 shares of the company’s stock valued at $122,000 after buying an additional 1,672 shares during the period. Cantab Capital Partners LLP bought a new position in Cinemark Holdings during the second quarter valued at $161,000. Park National Corp OH bought a new position in Cinemark Holdings during the second quarter valued at $203,000. Finally, Advance Capital I Inc. bought a new position in Cinemark Holdings during the second quarter valued at $204,000. 88.33% of the stock is currently owned by hedge funds and other institutional investors.
Cinemark Holdings Inc. (NYSE:CNK) traded down 1.37% during mid-day trading on Tuesday, hitting $41.04. The stock had a trading volume of 321,809 shares. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 20.22 and a beta of 1.01. The firm’s 50-day moving average is $40.38 and its 200 day moving average is $37.81. Cinemark Holdings Inc. has a 12 month low of $26.56 and a 12 month high of $42.56.
Cinemark Holdings (NYSE:CNK) last released its earnings results on Tuesday, November 8th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Cinemark Holdings had a return on equity of 20.75% and a net margin of 8.06%. The firm earned $768.60 million during the quarter, compared to analysts’ expectations of $776.40 million. During the same period in the prior year, the business earned $0.40 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Cinemark Holdings Inc. will post $1.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, November 30th. Cinemark Holdings’s dividend payout ratio is currently 53.47%.
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Several research firms have weighed in on CNK. Wunderlich boosted their price target on Cinemark Holdings from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Royal Bank Of Canada boosted their price target on Cinemark Holdings from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, November 14th. B. Riley raised Cinemark Holdings from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $41.75 to $47.00 in a research report on Thursday, August 4th. Loop Capital began coverage on Cinemark Holdings in a research note on Tuesday, August 23rd. They set a “buy” rating and a $44.00 target price for the company. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $43.00 target price (up from $42.00) on shares of Cinemark Holdings in a research note on Monday, November 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Cinemark Holdings currently has an average rating of “Buy” and an average price target of $41.62.
About Cinemark Holdings
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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