Cinemark Holdings Inc $CNK Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its position in Cinemark Holdings Inc (NYSE:CNK) by 53.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 72,788 shares of the company’s stock after selling 83,814 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Cinemark worth $1,692,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Cinemark by 20.1% in the third 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 period. Leonteq Securities AG acquired a new position in shares of Cinemark in the fourth quarter valued at about $83,000. GAMMA Investing LLC increased its holdings in shares of Cinemark by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock valued at $93,000 after purchasing an additional 1,372 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in shares of Cinemark in the fourth quarter valued at about $121,000.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CNK. Roth Mkm reissued a “buy” rating and issued a $37.00 price objective on shares of Cinemark in a report on Thursday, April 23rd. Morgan Stanley increased their price objective on Cinemark from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Zacks Research lowered Cinemark from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $36.00 target price on shares of Cinemark in a report on Monday, May 4th. Finally, Wall Street Zen raised Cinemark from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.31.

Cinemark Stock Up 3.7%

Cinemark stock opened at $30.84 on Friday. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 27.29 and a beta of 1.00. Cinemark Holdings Inc has a 52 week low of $21.60 and a 52 week high of $32.95. The business’s 50-day moving average price is $28.45 and its 200 day moving average price is $26.37. 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 posted 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). The company had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm’s revenue was up 18.9% on a year-over-year basis. During the same period last year, the business earned ($0.32) earnings per share. As a group, sell-side analysts anticipate that Cinemark Holdings Inc will post 2.11 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 28th. Cinemark’s dividend payout ratio (DPR) is 31.86%.

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.