Cinemark Holdings Inc $CNK Shares Acquired by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P increased its stake in Cinemark Holdings Inc by 29.1%, holding 42,383 shares valued at approximately $1.05 million as of its recent filing.
• Cinemark reported quarterly earnings of $0.63 per share, which was below analysts' expectations, with a 28.1% year-over-year increase in revenue to $940.50 million.
• The company announced a quarterly dividend of $0.08, reflecting a 1.2% yield, to be paid on September 10th for shareholders of record on August 27th.

Martingale Asset Management L P boosted its holdings in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,383 shares of the company's stock after acquiring an additional 9,557 shares during the period. Martingale Asset Management L P's holdings in Cinemark were worth $1,055,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Cinemark by 18.2% in the 1st quarter. Hsbc Holdings PLC now owns 442,780 shares of the company's stock valued at $10,810,000 after buying an additional 68,201 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Cinemark in the 1st quarter valued at approximately $2,900,000. Wellington Management Group LLP grew its stake in shares of Cinemark by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company's stock valued at $232,643,000 after buying an additional 1,066,225 shares during the period. Algert Global LLC purchased a new stake in shares of Cinemark in the 1st quarter valued at approximately $1,034,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Cinemark during the 1st quarter worth approximately $1,187,000.

Cinemark Stock Down 1.5%

NYSE:CNK traded down $0.40 during midday trading on Thursday, hitting $25.53. 1,987,481 shares of the company were exchanged, compared to its average volume of 3,906,127. The company has a fifty day simple moving average of $28.30 and a 200 day simple moving average of $28.62. Cinemark Holdings Inc has a fifty-two week low of $23.12 and a fifty-two week high of $36.28. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. The company has a market capitalization of $2.94 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.85 and a beta of 1.90.

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

Cinemark Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CNK. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen raised shares of Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cinemark in a research report on Thursday, July 10th. They set a "buy" rating and a $36.00 price objective for the company. Finally, B. Riley started coverage on shares of Cinemark in a research report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.67.

Insider Buying and Selling at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction on Friday, August 15th. The shares were sold at an average price of $25.17, for a total value of $181,224.00. Following the transaction, the executive vice president directly owned 203,768 shares in the company, valued at approximately $5,128,840.56. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Wanda Marie Gierhart sold 52,524 shares of Cinemark stock in a transaction on Friday, June 13th. The shares were sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the completion of the transaction, the insider owned 94,890 shares in the company, valued at approximately $3,022,246.50. This represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Cinemark 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.