Assetmark Inc. Has $2.40 Million Position in Cinemark Holdings Inc $CNK

Key Points

• Assetmark Inc. trimmed its stake in Cinemark by 26.2%, selling 36,646 shares and leaving 103,147 shares valued at about $2.40 million.
• Analysts have grown more positive—UBS, Moffett Nathanson and others upgraded the stock and JPMorgan raised its target—leaving a consensus rating of Moderate Buy with an average target of $32.69.
• Cinemark's most recent quarter missed estimates (EPS $0.16 vs. $0.24 expected; revenue $776.3M vs. $778.4M) with revenue down 4.7% year‑over‑year, while it pays a $0.09 quarterly dividend (≈1.2% yield).

Assetmark Inc. trimmed its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 26.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,147 shares of the company's stock after selling 36,646 shares during the quarter. Assetmark Inc. owned about 0.09% of Cinemark worth $2,397,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in 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 period. Financial Consulate Inc. acquired a new stake in shares of Cinemark during the third quarter worth $50,000. Meeder Asset Management Inc. acquired a new stake in shares of Cinemark during the third quarter worth $63,000. Smartleaf Asset Management LLC boosted its position in shares of Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company's stock valued at $83,000 after acquiring an additional 506 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of 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.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group upgraded shares of Cinemark to a "buy" rating in a research report on Tuesday, January 20th. Moffett Nathanson upgraded Cinemark from a "neutral" rating to a "buy" rating and set a $30.00 price target for the company in a research note on Tuesday, January 20th. Wall Street Zen raised Cinemark from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Roth Mkm restated a "buy" rating and set a $36.00 price objective on shares of Cinemark in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Cinemark from $31.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.69.

Cinemark Stock Performance

NYSE:CNK opened at $30.31 on Tuesday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.67 and a current ratio of 0.71. Cinemark Holdings Inc has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The company has a 50 day simple moving average of $27.68 and a two-hundred day simple moving average of $26.27. The company has a market capitalization of $3.54 billion, a PE ratio of 34.84 and a beta of 1.09.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The business had revenue of $776.30 million for the quarter, compared to analyst estimates of $778.41 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. The business's revenue was down 4.7% on a year-over-year basis. Research analysts anticipate that Cinemark Holdings Inc will post 2.05 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cinemark's payout ratio is currently 41.38%.

Insider Activity at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of Cinemark stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the transaction, the executive vice president directly owned 159,416 shares of the company's stock, valued at $4,152,786.80. The trade was a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by company insiders.

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.

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