Intech Investment Management LLC Boosts Stock Holdings in Cinemark Holdings Inc $CNK

Key Points

• Intech Investment Management LLC increased its stake in Cinemark Holdings Inc by 52.0%, owning approximately 94,133 shares valued at $2.34 million following an additional purchase of 32,190 shares.
• Other institutional investors, including Principal Financial Group and Dark Forest Capital Management, also raised their stakes significantly in Cinemark during the first quarter, signaling increasing confidence in the stock.
• Cinemark recently reported an EPS of $0.63, missing analysts' estimates by $0.15, with revenues of $940.5 million, showing a 28.1% year-over-year increase.

Intech Investment Management LLC grew its position in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 52.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,133 shares of the company's stock after purchasing an additional 32,190 shares during the quarter. Intech Investment Management LLC owned about 0.08% of Cinemark worth $2,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elequin Capital LP raised its position in shares of Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after acquiring an additional 677 shares during the period. Russell Investments Group Ltd. grew its position in Cinemark by 242.9% during the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company's stock worth $88,000 after purchasing an additional 2,502 shares during the last quarter. CWM LLC grew its position in Cinemark by 20.6% during the 1st quarter. CWM LLC now owns 6,548 shares of the company's stock worth $163,000 after purchasing an additional 1,118 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Cinemark during the 4th quarter worth $221,000. Finally, Twin Tree Management LP lifted its stake in shares of Cinemark by 2,790.7% in the 1st quarter. Twin Tree Management LP now owns 8,354 shares of the company's stock worth $208,000 after acquiring an additional 8,065 shares during the period.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Benchmark restated a "buy" rating and issued a $35.00 target price on shares of Cinemark in a research note on Wednesday, July 2nd. Roth Capital reduced their price objective on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Barrington Research reiterated an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a research note on Monday, August 4th. Wedbush upgraded shares of Cinemark from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $32.00 to $37.00 in a research report on Friday, July 11th. Finally, Wall Street Zen upgraded shares of Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.91.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the sale, the executive vice president owned 203,768 shares of the company's stock, valued at $5,128,840.56. This trade represents a 3.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.10% of the company's stock.

Cinemark Stock Performance

Shares of CNK traded down $0.26 during midday trading on Friday, reaching $27.63. 6,335,790 shares of the stock were exchanged, compared to its average volume of 3,694,905. Cinemark Holdings Inc has a twelve month low of $23.12 and a twelve month high of $36.28. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. The company has a market cap of $3.18 billion, a P/E ratio of 15.10, a PEG ratio of 1.99 and a beta of 1.85. The stock's 50 day simple moving average is $27.12 and its 200 day simple moving average is $28.41.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The firm had revenue of $940.50 million for the quarter, compared to analyst estimates of $942.14 million. During the same period in the prior year, the business posted $0.32 EPS. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. On average, sell-side analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 27th. Cinemark's dividend payout ratio is currently 17.49%.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.