Amundi Acquires 226,421 Shares of 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 increased its holdings in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 115.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 423,102 shares of the company's stock after purchasing an additional 226,421 shares during the period. Amundi owned approximately 0.37% of Cinemark worth $10,573,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Elequin Capital LP raised its position in Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after purchasing an additional 677 shares in the last quarter. Russell Investments Group Ltd. raised its position in Cinemark by 242.9% in the first quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company's stock worth $88,000 after purchasing an additional 2,502 shares in the last quarter. CWM LLC raised its position in Cinemark by 20.6% in the first quarter. CWM LLC now owns 6,548 shares of the company's stock worth $163,000 after purchasing an additional 1,118 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Cinemark in the fourth quarter worth about $221,000. Finally, Numerai GP LLC acquired a new position in Cinemark in the fourth quarter worth about $233,000.

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president directly owned 203,768 shares of the company's stock, valued at $5,128,840.56. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CNK shares. Wall Street Zen raised shares of Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a report on Monday, August 4th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $33.00 price objective (down previously from $36.00) on shares of Cinemark in a report on Monday, August 4th. Roth Capital dropped their price objective on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday, August 4th. Finally, B. Riley started coverage on shares of Cinemark in a report on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.67.

Cinemark Price Performance

Shares of CNK traded up $0.09 during mid-day trading on Friday, hitting $28.26. 2,785,344 shares of the company traded hands, compared to its average volume of 3,752,244. Cinemark Holdings Inc has a one year low of $23.12 and a one 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 business has a 50-day moving average of $27.27 and a 200 day moving average of $28.31. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 2.01 and a beta of 1.85.

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

Cinemark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 27th. Cinemark's dividend payout ratio is 17.49%.

Cinemark 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.