Cinemark Holdings Inc $CNK Shares Sold by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. lessened its holdings in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 43.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,168,046 shares of the company's stock after selling 903,907 shares during the quarter. Alyeska Investment Group L.P. owned approximately 1.01% of Cinemark worth $37,062,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CNK. EverSource Wealth Advisors LLC lifted its stake in shares of 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 in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Cinemark during the second quarter worth approximately $32,000. Leonteq Securities AG acquired a new stake in shares of Cinemark during the 4th quarter valued at $83,000. Kestra Advisory Services LLC purchased a new stake in shares of Cinemark in the 4th quarter valued at approximately $102,000. Finally, KBC Group NV boosted its holdings in shares of Cinemark by 56.9% during the first quarter. KBC Group NV now owns 4,334 shares of the company's stock worth $124,000 after purchasing an additional 1,572 shares during the period.

Wall Street Analyst Weigh In

CNK has been the topic of a number of analyst reports. Weiss Ratings raised Cinemark from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $40.00 target price on shares of Cinemark in a research report on Friday, July 31st. Wedbush lifted their target price on shares of Cinemark from $40.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Guggenheim set a $37.00 price target on shares of Cinemark in a report on Thursday, July 2nd. Finally, Benchmark lifted their price target on Cinemark from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.93.

Cinemark Price Performance

NYSE:CNK opened at $36.04 on Monday. The company has a market cap of $4.18 billion, a P/E ratio of 21.33 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. Cinemark Holdings Inc has a one year low of $21.60 and a one year high of $38.98. The firm's fifty day moving average price is $34.10 and its two-hundred day moving average price is $30.38.

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

Cinemark Dividend Announcement

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

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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