Fifth Third Bancorp Raises Holdings in Cinemark Holdings Inc $CNK

Fifth Third Bancorp grew its holdings in Cinemark Holdings Inc (NYSE:CNK) by 4,151.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,251 shares of the company’s stock after buying an additional 26,610 shares during the quarter. Fifth Third Bancorp’s holdings in Cinemark were worth $777,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in Cinemark by 118.5% during the second 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 period. Leonteq Securities AG purchased a new position in Cinemark in the fourth quarter worth $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 valued at $93,000 after acquiring an additional 1,372 shares during the period. Kestra Advisory Services LLC acquired a new stake in Cinemark in the fourth quarter valued at $102,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Cinemark during the 4th quarter worth $121,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CNK shares. The Goldman Sachs Group raised shares of Cinemark from a “sell” rating to a “neutral” rating and upped their price target for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. Barrington Research reiterated an “outperform” rating and issued a $36.00 price objective on shares of Cinemark in a research note on Monday, May 4th. Roth Capital reissued a “buy” rating and set a $38.00 price objective on shares of Cinemark in a report on Friday, July 17th. Wells Fargo & Company restated an “equal weight” rating and set a $31.00 target price (down from $36.00) on shares of Cinemark in a research report on Thursday, July 16th. Finally, Morgan Stanley increased their target price on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.58.

Cinemark Stock Up 2.7%

Cinemark stock opened at $33.60 on Tuesday. Cinemark Holdings Inc has a fifty-two week low of $21.60 and a fifty-two week high of $34.73. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 29.74 and a beta of 0.98. The stock’s fifty day moving average is $30.85 and its two-hundred day moving average is $28.19. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (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 firm had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. During the same period last year, the firm earned ($0.32) EPS. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. Analysts predict that Cinemark Holdings Inc will post 2.14 EPS for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, May 28th. Cinemark’s dividend payout ratio (DPR) is 31.86%.

Cinemark 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.