Amundi Has $10.57 Million Stock Holdings in Cinemark Holdings Inc $CNK

Key Points

• Amundi increased its stake in Cinemark Holdings Inc by 115.1% in Q1, acquiring an additional 226,421 shares, bringing its total ownership to 423,102 shares valued at approximately $10.57 million.
• Several large investors, including Elequin Capital and Twin Tree Management, have significantly increased their stakes in Cinemark, reflecting renewed interest in the company.
• Cinemark's most recent earnings report revealed a miss on EPS estimates, with a reported $0.63 EPS compared to a consensus estimate of $0.78, although revenue grew by 28.1% year-over-year.

Amundi boosted its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 115.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 423,102 shares of the company's stock after purchasing an additional 226,421 shares during the quarter. Amundi owned about 0.37% of Cinemark worth $10,573,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP lifted its holdings in shares of Cinemark by 2,933.6% during the first quarter. Dark Forest Capital Management LP now owns 240,749 shares of the company's stock worth $5,992,000 after buying an additional 232,813 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Cinemark by 25.4% during the first quarter. Royal Bank of Canada now owns 1,614,013 shares of the company's stock worth $40,172,000 after buying an additional 326,927 shares during the last quarter. Graham Capital Management L.P. lifted its holdings in shares of Cinemark by 13.6% during the first quarter. Graham Capital Management L.P. now owns 72,011 shares of the company's stock worth $1,792,000 after buying an additional 8,595 shares during the last quarter. Twin Tree Management LP lifted its holdings in shares of Cinemark by 2,790.7% during the first quarter. Twin Tree Management LP now owns 8,354 shares of the company's stock worth $208,000 after buying an additional 8,065 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new position in shares of Cinemark during the first quarter worth approximately $8,465,000.

Insider Buying and Selling at Cinemark

In other news, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president directly owned 203,768 shares in the company, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CNK. Wall Street Zen upgraded Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Roth Capital cut their price target on Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday, August 4th. Benchmark reiterated a "buy" rating and set a $35.00 price target on shares of Cinemark in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Cinemark in a research note on Thursday, July 10th. They issued a "buy" rating and a $36.00 target price for the company. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $33.00 target price (down from $36.00) on shares of Cinemark in a research note on Monday, August 4th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.67.

Cinemark Price Performance

Cinemark stock traded up $0.29 during mid-day trading on Monday, hitting $28.54. 4,848,736 shares of the company were exchanged, compared to its average volume of 3,633,074. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. The business has a fifty day moving average of $27.25 and a 200 day moving average of $28.36. Cinemark Holdings Inc has a 1-year low of $23.12 and a 1-year high of $36.28. The company has a market capitalization of $3.28 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 2.02 and a beta of 1.85.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The company had revenue of $940.50 million for the quarter, compared to analyst estimates of $942.14 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The business's revenue was up 28.1% compared to the same quarter last year. As a group, sell-side analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were paid a $0.08 dividend. The ex-dividend date was Wednesday, August 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. Cinemark's dividend payout ratio (DPR) is 17.49%.

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.