Cinemark Holdings Inc. (CNK) Shares Sold by Sarasin & Partners LLP
Sarasin & Partners LLP reduced its position in Cinemark Holdings Inc. (NYSE:CNK) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,444,054 shares of the company’s stock after selling 57,465 shares during the period. Sarasin & Partners LLP owned about 1.25% of Cinemark Holdings worth $55,278,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Citadel Advisors LLC raised its stake in shares of Cinemark Holdings by 146.0% in the second quarter. Citadel Advisors LLC now owns 738,168 shares of the company’s stock worth $26,914,000 after buying an additional 438,044 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Cinemark Holdings during the second quarter worth about $15,926,000. Vanguard Group Inc. raised its stake in shares of Cinemark Holdings by 4.8% in the second quarter. Vanguard Group Inc. now owns 7,699,930 shares of the company’s stock worth $280,740,000 after buying an additional 352,241 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Cinemark Holdings by 40.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 1,103,558 shares of the company’s stock worth $40,236,000 after buying an additional 317,370 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Cinemark Holdings by 4.9% in the second quarter. BlackRock Fund Advisors now owns 6,427,631 shares of the company’s stock worth $234,351,000 after buying an additional 300,963 shares in the last quarter. 88.33% of the stock is currently owned by hedge funds and other institutional investors.
Cinemark Holdings Inc. (NYSE:CNK) traded down 0.74% on Wednesday, reaching $40.43. The company had a trading volume of 50,494 shares. The stock has a market capitalization of $4.67 billion, a P/E ratio of 19.92 and a beta of 1.01. Cinemark Holdings Inc. has a 12 month low of $26.56 and a 12 month high of $42.56. The firm has a 50-day moving average of $40.38 and a 200-day moving average of $37.81.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. Cinemark Holdings had a return on equity of 20.75% and a net margin of 8.06%. The business had revenue of $768.60 million for the quarter, compared to analysts’ expectations of $776.40 million. During the same period in the prior year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Cinemark Holdings Inc. will post $1.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, November 30th. Cinemark Holdings’s dividend payout ratio is presently 53.47%.
A number of analysts have recently issued reports on CNK shares. Goldman Sachs Group Inc. raised Cinemark Holdings from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Monday, October 31st. Loop Capital reaffirmed a “buy” rating and issued a $44.00 price target on shares of Cinemark Holdings in a research note on Tuesday, October 4th. Wedbush reiterated a “neutral” rating and set a $40.00 price objective on shares of Cinemark Holdings in a research report on Thursday, September 22nd. Benchmark Co. reiterated a “hold” rating and set a $35.94 price objective on shares of Cinemark Holdings in a research report on Wednesday, November 9th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $43.00 price objective (up previously from $42.00) on shares of Cinemark Holdings in a research report on Monday, November 14th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $41.62.
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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