Sierra Summit Advisors LLC Buys New Position in Cinemark Holdings Inc $CNK

Sierra Summit Advisors LLC purchased a new position in Cinemark Holdings Inc (NYSE:CNK) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,306 shares of the company’s stock, valued at approximately $625,000.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Cinemark by 118.5% during 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 during 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 position in shares of Cinemark in the 3rd quarter worth about $63,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Cinemark by 20.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after purchasing an additional 506 shares during the last quarter.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 22,082 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total value of $547,854.42. Following the completion of the sale, the executive vice president owned 167,360 shares of the company’s stock, valued at $4,152,201.60. This trade represents a 11.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $28.23 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74. The company has a 50-day moving average price of $24.31 and a 200-day moving average price of $25.94. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 32.45 and a beta of 1.08. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $34.01.

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

Cinemark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. Cinemark’s payout ratio is 41.38%.

Analysts Set New Price Targets

CNK has been the subject of several research reports. Macquarie Infrastructure cut their target price on Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. UBS Group raised shares of Cinemark to a “buy” rating in a research note on Tuesday, January 20th. Roth Mkm reiterated a “buy” rating and issued a $36.00 target price on shares of Cinemark in a research report on Thursday, February 19th. The Goldman Sachs Group reissued a “sell” rating and issued a $22.00 price target on shares of Cinemark in a research note on Thursday, February 19th. Finally, Wells Fargo & Company reduced their price objective on Cinemark from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.08.

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.