AlphaQuest LLC Purchases 21,184 Shares of Cinemark Holdings Inc $CNK

Key Points

• AlphaQuest LLC increased its stake in Cinemark Holdings Inc by 169.6%, owning a total of 33,673 shares worth approximately $1,016,000, after acquiring 21,184 shares in Q2.
• Cinemark reported $0.63 EPS for the last quarter, missing analysts' expectations of $0.78, despite a 28.1% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.08 per share, with a 1.2% dividend yield and a payout ratio of 17.49%.

AlphaQuest LLC boosted its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 169.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,673 shares of the company's stock after acquiring an additional 21,184 shares during the quarter. AlphaQuest LLC's holdings in Cinemark were worth $1,016,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CNK. New York State Teachers Retirement System grew its holdings in Cinemark by 2.5% during the 1st quarter. New York State Teachers Retirement System now owns 101,388 shares of the company's stock worth $2,524,000 after acquiring an additional 2,450 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Cinemark during the 1st quarter valued at about $401,000. Principal Financial Group Inc. lifted its position in Cinemark by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 681,435 shares of the company's stock valued at $16,961,000 after purchasing an additional 18,645 shares during the period. Alps Advisors Inc. acquired a new position in Cinemark during the 1st quarter valued at about $359,000. Finally, Cerity Partners LLC acquired a new position in Cinemark during the 1st quarter valued at about $2,081,000.

Cinemark Price Performance

NYSE:CNK opened at $26.44 on Friday. Cinemark Holdings Inc has a 1-year low of $23.12 and a 1-year high of $36.28. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. The firm has a fifty day simple moving average of $26.93 and a 200 day simple moving average of $28.82. The stock has a market capitalization of $3.04 billion, a PE ratio of 14.45, a P/E/G ratio of 1.89 and a beta of 1.75.

Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.15). The business had revenue of $940.50 million during the quarter, compared to the consensus estimate of $942.14 million. Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The company's revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. On average, research analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, August 27th. Cinemark's payout ratio is 17.49%.

Insider Buying and Selling at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the sale, the executive vice president directly owned 203,768 shares in the company, valued at $5,128,840.56. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Roth Capital cut their target price on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Wall Street Zen upgraded shares of Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cinemark in a research report on Thursday, July 10th. They issued a "buy" rating and a $36.00 price target on the stock. Barrington Research reiterated an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research report on Tuesday, September 23rd. Finally, Zacks Research upgraded shares of Cinemark from a "strong sell" rating to a "hold" rating in a research report on Friday, October 3rd. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cinemark presently has an average rating of "Moderate Buy" and an average target price of $35.30.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.

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