Hudson Bay Capital Management LP Purchases 285,225 Shares of Cinemark Holdings Inc $CNK

Hudson Bay Capital Management LP raised its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 251.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 398,762 shares of the company’s stock after buying an additional 285,225 shares during the quarter. Hudson Bay Capital Management LP owned about 0.34% of Cinemark worth $11,173,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 507 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Cinemark during the second quarter worth about $47,000. Financial Consulate Inc. bought a new stake in Cinemark during the third quarter worth about $50,000. Meeder Asset Management Inc. purchased a new stake in Cinemark in the third quarter worth about $63,000. Finally, Smartleaf Asset Management LLC grew its holdings in Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after purchasing an additional 506 shares during the period.

Analyst Upgrades and Downgrades

CNK has been the subject of several recent research reports. Macquarie Infrastructure lowered their target price on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. JPMorgan Chase & Co. cut their price target on Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. UBS Group raised Cinemark to a “buy” rating in a research report on Tuesday, January 20th. Barrington Research reiterated an “outperform” rating and set a $32.00 price objective on shares of Cinemark in a research note on Thursday, February 19th. Finally, B. Riley Financial reissued a “neutral” rating on shares of Cinemark in a report on Thursday, February 19th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and an average target price of $32.08.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the sale, the executive vice president owned 159,416 shares in the company, valued at $4,152,786.80. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Cinemark Stock Down 1.1%

CNK opened at $26.33 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74. Cinemark Holdings Inc has a 1-year low of $21.60 and a 1-year high of $34.01. The company has a market capitalization of $3.04 billion, a PE ratio of 30.26 and a beta of 1.08. The firm’s 50 day simple moving average is $25.48 and its two-hundred day simple moving average is $26.04.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $776.30 million for the quarter, compared to the consensus estimate of $778.41 million. Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. As a group, equities analysts forecast that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cinemark’s payout ratio is currently 41.38%.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.