Deutsche Bank AG Purchases New Shares in Cinemark Holdings Inc $CNK

Key Points

• Deutsche Bank acquired 113,719 Cinemark shares worth approximately $3.6 million in the second quarter, giving it a roughly 0.10% stake. Several other institutional investors also increased their holdings.
• Cinemark reported strong quarterly results, with EPS of $1.19 beating estimates of $1.03 and revenue rising 15.5% year over year to $1.09 billion. The company also announced a quarterly dividend of $0.09 per share, yielding about 1.0% annually.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $37.93. However, JPMorgan downgraded the stock to “Neutral” and lowered its target to $39; shares recently opened at $37.06.

Deutsche Bank AG acquired a new position in Cinemark Holdings Inc (NYSE:CNK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 113,719 shares of the company's stock, valued at approximately $3,608,000. Deutsche Bank AG owned approximately 0.10% of Cinemark as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Maryland State Retirement & Pension System grew its position in Cinemark by 3.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company's stock worth $352,000 after acquiring an additional 449 shares in the last quarter. GAMMA Investing LLC raised its position in Cinemark by 10.2% during the second quarter. GAMMA Investing LLC now owns 4,982 shares of the company's stock valued at $158,000 after purchasing an additional 462 shares during the period. Gabelli Funds LLC lifted its stake in shares of 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 shares of Cinemark by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company's stock worth $548,000 after purchasing an additional 507 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Cinemark by 118.5% during 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 last quarter.

Cinemark Stock Down 0.9%

Shares of NYSE:CNK opened at $37.06 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87. The business's 50 day moving average is $33.99 and its 200 day moving average is $30.23. The stock has a market cap of $4.30 billion, a P/E ratio of 21.93 and a beta of 1.00. Cinemark Holdings Inc has a 52-week low of $21.60 and a 52-week high of $38.98.

Cinemark (NYSE:CNK - Get Free Report) last issued its earnings results 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. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS. Sell-side analysts predict that Cinemark Holdings Inc will post 2.36 EPS for the current year.

Cinemark Dividend Announcement

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

Analysts Set New Price Targets

CNK has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered shares of Cinemark from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $40.00 to $39.00 in a research note on Friday, August 14th. Morgan Stanley set a $40.00 price target on shares of Cinemark in a report on Wednesday, July 29th. Guggenheim set a $37.00 price objective on shares of Cinemark in a research report on Thursday, July 2nd. Roth Capital set a $40.00 price objective on shares of Cinemark in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group raised Cinemark from a "sell" rating to a "neutral" rating and upped their target price for the company from $23.00 to $30.00 in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock 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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