340,109 Shares in Cinemark Holdings Inc $CNK Bought by Kodai Capital Management LP

Key Points

• Kodai Capital Management LP invested approximately $8.47 million in Cinemark Holdings Inc by acquiring 340,109 shares in the first quarter, representing about 0.30% of the company.
• Cinemark's recent earnings report showed a missed EPS estimate of $0.63 compared to the expected $0.78, though revenue increased 28.1% year-over-year, reaching $940.5 million.
• The company declared a quarterly dividend of $0.08 to be paid on September 10, associated with a yield of 1.3%, highlighting a payout ratio of 17.49%.

Kodai Capital Management LP bought a new stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 340,109 shares of the company's stock, valued at approximately $8,465,000. Kodai Capital Management LP owned 0.30% of Cinemark at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CNK. Principal Financial Group Inc. raised its stake in Cinemark by 2.8% in the first quarter. Principal Financial Group Inc. now owns 681,435 shares of the company's stock valued at $16,961,000 after buying an additional 18,645 shares during the period. GHP Investment Advisors Inc. lifted its holdings in Cinemark by 104.8% during the 1st quarter. GHP Investment Advisors Inc. now owns 28,365 shares of the company's stock worth $706,000 after buying an additional 14,518 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cinemark by 1,677.9% in the 1st quarter. GAMMA Investing LLC now owns 52,020 shares of the company's stock valued at $1,295,000 after purchasing an additional 49,094 shares during the period. Cerity Partners LLC bought a new stake in Cinemark in the 1st quarter valued at about $2,081,000. Finally, Hsbc Holdings PLC increased its holdings in Cinemark by 18.2% during the 1st quarter. Hsbc Holdings PLC now owns 442,780 shares of the company's stock worth $10,810,000 after purchasing an additional 68,201 shares in the last quarter.

Cinemark Trading Down 0.8%

CNK stock traded down $0.21 during mid-day trading on Tuesday, reaching $25.59. The company had a trading volume of 5,373,612 shares, compared to its average volume of 3,922,910. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The company has a market capitalization of $2.94 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.85 and a beta of 1.85. The firm has a 50 day moving average of $27.93 and a 200 day moving average of $28.45. Cinemark Holdings Inc has a 12 month low of $23.12 and a 12 month high of $36.28.

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

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th will be given a $0.08 dividend. The ex-dividend date is Wednesday, August 27th. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. Cinemark's dividend payout ratio (DPR) is 17.49%.

Insider Transactions at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 52,524 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $31.85, for a total value of $1,672,889.40. Following the transaction, the insider directly owned 94,890 shares in the company, valued at $3,022,246.50. The trade was a 35.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the transaction, the executive vice president owned 203,768 shares in the company, valued at $5,128,840.56. The trade was a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CNK shares. Benchmark reiterated a "buy" rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Cinemark in a research note on Thursday, July 10th. They set a "buy" rating and a $36.00 price objective on the stock. Barrington Research restated an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a report on Monday, August 4th. B. Riley started coverage on shares of Cinemark in a report on Friday, May 16th. They set a "neutral" rating and a $35.00 target price for the company. Finally, Roth Capital reduced their price target on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cinemark presently has an average rating of "Moderate Buy" and a consensus price target of $33.67.

About Cinemark

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.