Cinemark Holdings Inc $CNK Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its Cinemark stake by 55.1% in the second quarter, selling 439,865 shares and retaining 357,814 shares valued at approximately $11.35 million.
• Cinemark reported stronger-than-expected quarterly results, with EPS of $1.19 versus the $1.03 consensus estimate and revenue of $1.09 billion, up 15.5% year over year.
• The company paid a quarterly dividend of $0.09, equivalent to a 1.0% annualized yield, while analysts maintained a “Moderate Buy” consensus rating with an average price target of $37.93.

Squarepoint Ops LLC lessened its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 55.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 357,814 shares of the company's stock after selling 439,865 shares during the period. Squarepoint Ops LLC owned 0.31% of Cinemark worth $11,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maryland State Retirement & Pension System increased its position in Cinemark by 3.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company's stock worth $352,000 after purchasing an additional 449 shares during the last quarter. GAMMA Investing LLC raised its stake in Cinemark by 10.2% during the second quarter. GAMMA Investing LLC now owns 4,982 shares of the company's stock worth $158,000 after purchasing an additional 462 shares during the period. Gabelli Funds LLC boosted its holdings in Cinemark by 0.5% in the 1st quarter. Gabelli Funds LLC now owns 101,866 shares of the company's stock valued at $2,905,000 after purchasing an additional 490 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Cinemark by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company's stock valued at $548,000 after purchasing an additional 507 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 buying an additional 507 shares during the period.

Cinemark Stock Down 2.7%

Shares of NYSE CNK opened at $35.19 on Thursday. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 20.82 and a beta of 0.98. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87. Cinemark Holdings Inc has a 52-week low of $21.60 and a 52-week high of $38.98. The business's 50 day moving average is $34.49 and its two-hundred day moving average is $30.93.

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

Cinemark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Cinemark's dividend payout ratio (DPR) is presently 21.30%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CNK. Barrington Research set a $42.00 target price on Cinemark in a research note on Thursday, July 30th. Wells Fargo & Company upped their price target on Cinemark from $31.00 to $34.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. The Goldman Sachs Group upgraded Cinemark from a "sell" rating to a "neutral" rating and increased their price target for the stock from $23.00 to $30.00 in a report on Wednesday, July 8th. Wall Street Zen downgraded Cinemark from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 29th. Finally, JPMorgan Chase & Co. lowered shares of Cinemark from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $40.00 to $39.00 in a report on Friday, August 14th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.93.

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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