Jain Global LLC Purchases 447,468 Shares of Cinemark Holdings Inc $CNK

Jain Global LLC increased its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 37.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,644,623 shares of the company’s stock after acquiring an additional 447,468 shares during the quarter. Cinemark comprises about 0.2% of Jain Global LLC’s investment portfolio, making the stock its 21st largest position. Jain Global LLC’s holdings in Cinemark were worth $46,082,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Cinemark during the 2nd quarter valued at about $47,000. Financial Consulate Inc. bought a new position in shares of Cinemark in the 3rd quarter valued at about $50,000. Meeder Asset Management Inc. bought a new position in shares of Cinemark in the 3rd quarter valued at about $63,000. Finally, Smartleaf Asset Management LLC grew 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 worth $83,000 after buying an additional 506 shares during the period.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $25.78 on Monday. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 29.63 and a beta of 1.08. The firm’s 50 day simple moving average is $25.18 and its 200 day simple moving average is $26.02. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67. Cinemark Holdings Inc has a fifty-two week low of $21.60 and a fifty-two week high of $34.01.

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). Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The firm had revenue of $776.30 million for the quarter, compared to analyst estimates of $778.41 million. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 3rd. Cinemark’s dividend payout ratio (DPR) is currently 41.38%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CNK. Moffett Nathanson upgraded shares of Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, January 20th. Roth Mkm reaffirmed a “buy” rating and set a $36.00 target price on shares of Cinemark in a report on Thursday, February 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a research note on Monday, December 29th. Wall Street Zen upgraded Cinemark from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Zacks Research raised Cinemark from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.08.

Insider Activity

In other news, EVP Melissa Thomas sold 7,944 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the transaction, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. The trade was a 4.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

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.