Engineers Gate Manager LP Makes New $3.67 Million Investment in Cinemark Holdings Inc $CNK

Key Points

• Engineers Gate Manager LP initiated a $3.67 million position in Cinemark, purchasing 115,680 shares and acquiring approximately 0.10% of the company.
• Several major institutional investors also increased or initiated holdings, including BlackRock’s new $530.9 million stake and a significant position increase by California State Teachers Retirement System.
• Cinemark reported stronger-than-expected quarterly results, with $1.19 EPS and $1.09 billion in revenue, while analysts maintain a “Moderate Buy” consensus and an average price target of $37.93.

Engineers Gate Manager LP bought 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 disclosure with the SEC. The fund bought 115,680 shares of the company's stock, valued at approximately $3,671,000. Engineers Gate Manager LP owned 0.10% of Cinemark as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CNK. BlackRock Inc. bought a new position in Cinemark during the 2nd quarter worth $530,855,000. Lavaca Capital LLC acquired a new stake in shares of Cinemark during the fourth quarter worth $133,045,000. California State Teachers Retirement System boosted its position in shares of Cinemark by 3,026.1% in the second quarter. California State Teachers Retirement System now owns 3,803,380 shares of the company's stock valued at $119,867,000 after acquiring an additional 3,681,716 shares during the period. Orbis Allan Gray Ltd boosted 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 acquiring an additional 3,563,810 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Cinemark in the fourth quarter valued at about $55,296,000.

Cinemark Stock Performance

NYSE:CNK opened at $35.09 on Friday. The stock's 50-day simple moving average is $34.63 and its 200 day simple moving average is $31.02. The firm has a market capitalization of $4.07 billion, a PE ratio of 20.76 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 twelve month low of $21.60 and a twelve month high of $38.98.

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

Cinemark Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNK. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Friday, July 31st. Barrington Research set a $42.00 target price on shares of Cinemark in a report on Thursday, July 30th. Roth Capital set a $40.00 price target on shares of Cinemark in a research report on Thursday, July 30th. JPMorgan Chase & Co. cut Cinemark from an "overweight" rating to a "neutral" rating and cut their price target for the company from $40.00 to $39.00 in a research note on Friday, August 14th. Finally, Guggenheim set a $37.00 price target on Cinemark in a research report on Thursday, July 2nd. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.93.

Cinemark Profile

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.

In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.

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