Cinemark Holdings Inc $CNK Stock Position Cut by Lavaca Capital LLC

Lavaca Capital LLC cut its stake in Cinemark Holdings Inc (NYSE:CNK) by 64.3% in the 1st quarter, Holdings Channel reports. The firm owned 2,041,403 shares of the company’s stock after selling 3,683,433 shares during the period. Cinemark makes up about 10.3% of Lavaca Capital LLC’s portfolio, making the stock its 3rd biggest position. Lavaca Capital LLC’s holdings in Cinemark were worth $58,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares in the last quarter. Leonteq Securities AG bought a new position in Cinemark in the fourth quarter worth about $83,000. GAMMA Investing LLC lifted its holdings in Cinemark by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after buying an additional 1,372 shares during the period. Kestra Advisory Services LLC purchased a new stake in Cinemark in the fourth quarter worth about $102,000. Finally, Bayforest Capital Ltd bought a new stake in Cinemark during the 4th quarter valued at approximately $121,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CNK shares. Guggenheim set a $37.00 price target on Cinemark in a research note on Thursday, July 2nd. Benchmark raised their price objective on Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their target price on shares of Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $31.00 price target (down from $36.00) on shares of Cinemark in a research note on Thursday, July 16th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and a consensus price target of $34.58.

Cinemark Stock Up 2.4%

CNK stock opened at $32.24 on Thursday. The business has a 50 day moving average of $30.45 and a 200 day moving average of $27.98. The firm has a market cap of $3.77 billion, a PE ratio of 28.53 and a beta of 0.98. Cinemark Holdings Inc has a twelve month low of $21.60 and a twelve month high of $34.73. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03.

Cinemark (NYSE:CNK) last released its earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The company had revenue of $643.10 million during the quarter, compared to the consensus estimate of $632.74 million. During the same period last year, the firm posted ($0.32) earnings per share. The company’s revenue was up 18.9% compared to the same quarter last year. On average, research analysts forecast that Cinemark Holdings Inc will post 2.14 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a $0.09 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Cinemark’s payout ratio is presently 31.86%.

Cinemark Company Profile

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.