Maverick Capital Ltd. Purchases New Holdings in Cinemark Holdings Inc $CNK

Maverick Capital Ltd. acquired a new stake in shares of Cinemark Holdings Inc (NYSE:CNK) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,289 shares of the company’s stock, valued at approximately $436,000.

A number of other hedge funds also recently added to or reduced their stakes in CNK. EverSource Wealth Advisors LLC grew its stake in shares of Cinemark by 118.5% in 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 during the last quarter. Leonteq Securities AG purchased a new stake in shares of Cinemark during the fourth quarter worth approximately $83,000. Kestra Advisory Services LLC purchased a new stake in shares of Cinemark during the fourth quarter worth approximately $102,000. Bayforest Capital Ltd acquired a new stake in shares of Cinemark during the fourth quarter worth $121,000. Finally, KBC Group NV lifted its holdings in shares of Cinemark by 56.9% during the first quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after purchasing an additional 1,572 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CNK shares. The Goldman Sachs Group upgraded shares of Cinemark from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $23.00 to $30.00 in a research report on Wednesday, July 8th. Benchmark raised their target price on shares of Cinemark from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $31.00 target price (down from $36.00) on shares of Cinemark in a report on Thursday, July 16th. Guggenheim set a $37.00 price target on shares of Cinemark in a research note on Thursday, July 2nd. Finally, Wall Street Zen raised shares of Cinemark from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.31.

Cinemark Stock Down 0.6%

Cinemark stock opened at $34.84 on Thursday. The stock’s 50 day moving average price is $31.19 and its 200 day moving average price is $28.36. Cinemark Holdings Inc has a 1-year low of $21.60 and a 1-year high of $35.50. The company has a market cap of $4.07 billion, a PE ratio of 30.83 and a beta of 0.98. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58.

Cinemark (NYSE:CNK) last released its quarterly earnings data 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 business had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $632.74 million. During the same quarter in the previous year, the company posted ($0.32) EPS. The company’s revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts predict that Cinemark Holdings Inc will post 2.15 EPS for the current fiscal year.

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, May 28th. Cinemark’s dividend payout ratio (DPR) is currently 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.