Lavaca Capital LLC Has $58.22 Million Holdings in Cinemark Holdings Inc $CNK

Key Points

• Lavaca Capital LLC cut its Cinemark stake by 64.3% in Q1, but still holds 2.04 million shares worth about $58.2 million, making CNK its third-largest holding and about 10.3% of its portfolio.
• Cinemark recently reported quarterly earnings of ($0.06) per share, missing estimates by a penny, while revenue of $643.1 million came in above expectations and rose 18.9% year over year.
• The stock was trading up 2.4% at $32.24, and Wall Street maintains a Moderate Buy consensus with an average price target of $34.58 despite a mix of upgrades, downgrades, and lowered targets.

Lavaca Capital LLC lessened its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 64.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,041,403 shares of the company's stock after selling 3,683,433 shares during the quarter. Cinemark comprises 10.3% of Lavaca Capital LLC's portfolio, making the stock its 3rd largest holding. Lavaca Capital LLC owned approximately 1.75% of Cinemark worth $58,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock worth $28,000 after buying an additional 507 shares in the last quarter. Leonteq Securities AG purchased a new position in Cinemark during the fourth quarter valued at approximately $83,000. GAMMA Investing LLC grew its stake in Cinemark by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company's stock valued at $93,000 after acquiring an additional 1,372 shares in the last quarter. KBC Group NV increased its holdings in Cinemark by 56.9% during the 1st quarter. KBC Group NV now owns 4,334 shares of the company's stock worth $124,000 after acquiring an additional 1,572 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Cinemark in the 4th quarter worth approximately $102,000.

Cinemark Trading Up 2.4%

Shares of Cinemark stock opened at $32.24 on Thursday. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $34.73. The firm has a market cap of $3.77 billion, a PE ratio of 28.53 and a beta of 0.98. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. The company has a 50 day simple moving average of $30.45 and a two-hundred day simple moving average of $27.98.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The company had revenue of $643.10 million during the quarter, compared to the consensus estimate of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.Cinemark's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) EPS. Analysts expect that Cinemark Holdings Inc will post 2.14 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were given a $0.09 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.36 annualized dividend and a yield of 1.1%. Cinemark's payout ratio is 31.86%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CNK. Zacks Research downgraded shares of Cinemark from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. B. Riley Financial lowered their price objective on Cinemark from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, July 17th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $31.00 price objective (down from $36.00) on shares of Cinemark in a research report on Thursday, July 16th. The Goldman Sachs Group raised Cinemark from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $23.00 to $30.00 in a research note on Wednesday, July 8th. Finally, Morgan Stanley boosted their target price on Cinemark from $30.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 9th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $34.58.

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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