Capstone Investment Advisors LLC Makes New $972,000 Investment in Cinemark Holdings Inc $CNK

Key Points

• Capstone Investment Advisors initiated a $972,000 position in Cinemark during the second quarter, joining several major institutional investors that increased their stakes.
• Cinemark reported stronger-than-expected quarterly results, with $1.19 in EPS and $1.09 billion in revenue, up 15.5% year over year. Analysts expect full-year EPS of $2.36.
• The company declared a quarterly dividend of $0.09, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $37.93.

Capstone Investment Advisors LLC purchased a new position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 30,647 shares of the company's stock, valued at approximately $972,000.

Several other large investors also recently added to or reduced their stakes in CNK. BlackRock Inc. purchased a new stake in shares of Cinemark during the second quarter worth $530,855,000. Orbis Allan Gray Ltd grew its position in shares of Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company's stock valued at $349,946,000 after purchasing an additional 3,563,810 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Cinemark by 8.4% in the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company's stock valued at $221,638,000 after purchasing an additional 742,307 shares in the last quarter. Lavaca Capital LLC bought a new stake in shares of Cinemark during the 4th quarter valued at $133,045,000. Finally, State Street Corp raised its stake in shares of Cinemark by 1.5% during the 4th quarter. State Street Corp now owns 3,950,606 shares of the company's stock valued at $91,812,000 after purchasing an additional 60,176 shares during the period.

Cinemark Trading Down 1.1%

Shares of Cinemark stock opened at $36.70 on Friday. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $38.98. The firm has a market cap of $4.25 billion, a PE ratio of 21.71 and a beta of 1.00. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The company has a 50 day simple moving average of $34.05 and a two-hundred day simple moving average of $30.31.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.16. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. Analysts expect that Cinemark Holdings Inc will post 2.36 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be given a $0.09 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $0.36 annualized dividend and a yield of 1.0%. Cinemark's payout ratio is 21.30%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Guggenheim set a $37.00 target price on Cinemark in a research note on Thursday, July 2nd. The Goldman Sachs Group upgraded Cinemark from a "sell" rating to a "neutral" rating and upped their price target for the company from $23.00 to $30.00 in a research report on Wednesday, July 8th. Wall Street Zen raised shares of Cinemark from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Wells Fargo & Company raised their price objective on shares of Cinemark from $31.00 to $34.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Finally, B. Riley Financial raised their price objective on shares of Cinemark from $35.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.93.

Cinemark Company 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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