Cinemark Holdings Inc $CNK Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP reduced its Cinemark stake by 41.8% in the first quarter, selling 65,182 shares and retaining 90,671 shares valued at approximately $2.6 million.
• Other institutional investors increased their positions, while Wall Street analysts maintained a broadly positive view. Cinemark has a consensus “Moderate Buy” rating and an average price target of $38.00.
• Cinemark exceeded quarterly expectations, reporting $1.19 earnings per share and $1.09 billion in revenue, up 15.5% year over year. The company also pays a quarterly dividend of $0.09 per share, equivalent to a 1.0% annual yield.

First Trust Advisors LP cut its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 41.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,671 shares of the company's stock after selling 65,182 shares during the quarter. First Trust Advisors LP owned approximately 0.08% of Cinemark worth $2,586,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNK. State of New Jersey Common Pension Fund D purchased a new position in Cinemark in the fourth quarter worth approximately $1,661,000. UBS Group AG increased its position in shares of Cinemark by 49.8% in the 4th quarter. UBS Group AG now owns 1,100,402 shares of the company's stock valued at $25,573,000 after purchasing an additional 365,630 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Cinemark by 80.1% in the 1st quarter. GHP Investment Advisors Inc. now owns 41,764 shares of the company's stock valued at $1,191,000 after purchasing an additional 18,579 shares in the last quarter. Saber Capital Managment LLC acquired a new stake in shares of Cinemark in the 4th quarter valued at $6,300,000. Finally, WINTON GROUP Ltd raised its holdings in shares of Cinemark by 635.9% in the 4th quarter. WINTON GROUP Ltd now owns 177,734 shares of the company's stock valued at $4,131,000 after purchasing an additional 153,582 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CNK. Barrington Research set a $42.00 target price on shares of Cinemark in a research note on Thursday, July 30th. Moffett Nathanson restated a "buy" rating and issued a $40.00 price target on shares of Cinemark in a research note on Thursday, July 30th. Wedbush lifted their price target on Cinemark from $40.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Benchmark upped their price objective on Cinemark from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $40.00 price objective on shares of Cinemark in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Cinemark Trading Down 2.2%

NYSE CNK opened at $37.11 on Friday. The firm's fifty day moving average price is $32.63 and its 200 day moving average price is $29.00. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $38.98. 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 market capitalization of $4.30 billion, a price-to-earnings ratio of 21.96 and a beta of 1.00.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.16. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The firm had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the company earned $0.63 earnings per share. Cinemark's quarterly revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts expect that Cinemark Holdings Inc will post 2.34 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. 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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