Mitchell Capital Management Co. Has $2.34 Million Stock Position in Cinemark Holdings Inc $CNK

Key Points

• Mitchell Capital Management Co. reduced its stake in Cinemark Holdings Inc by 15.4% during the 2nd quarter, holding 77,293 shares worth approximately $2.34 million.
• Multiple institutional investors have increased their positions in Cinemark, with Assenagon Asset Management S.A. boosting its stake by 106.9% to over $78 million.
• Analysts maintain a positive outlook on Cinemark, with an average rating of "Moderate Buy" and an average price target of $35.40 per share.

Mitchell Capital Management Co. decreased its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 15.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,293 shares of the company's stock after selling 14,022 shares during the quarter. Mitchell Capital Management Co. owned about 0.07% of Cinemark worth $2,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNK. Assenagon Asset Management S.A. boosted its stake in shares of Cinemark by 106.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company's stock worth $78,147,000 after acquiring an additional 1,338,153 shares during the period. Nuveen LLC bought a new position in shares of Cinemark during the 1st quarter worth approximately $32,297,000. Wellington Management Group LLP boosted its stake in shares of Cinemark by 12.9% during the 1st quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company's stock worth $232,643,000 after acquiring an additional 1,066,225 shares during the period. Rivermont Capital Management LP bought a new position in shares of Cinemark during the 1st quarter worth approximately $11,000,000. Finally, Kodai Capital Management LP bought a new position in shares of Cinemark during the 1st quarter worth approximately $8,465,000.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barrington Research reiterated an "outperform" rating and set a $36.00 target price on shares of Cinemark in a research note on Tuesday, September 23rd. Roth Capital reduced their target price on Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company restated an "overweight" rating and issued a $33.00 price target (down from $36.00) on shares of Cinemark in a research note on Monday, August 4th. Benchmark restated a "buy" rating and issued a $35.00 price target on shares of Cinemark in a research note on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Cinemark in a research note on Thursday, July 10th. They issued a "buy" rating and a $36.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.40.

Cinemark Stock Performance

CNK opened at $25.75 on Monday. The company has a market capitalization of $2.96 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.85 and a beta of 1.75. 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 business has a fifty day simple moving average of $26.72 and a 200 day simple moving average of $28.74. Cinemark Holdings Inc has a 1 year low of $23.12 and a 1 year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data 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 company 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 period in the prior year, the firm earned $0.32 earnings per share. Research analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.32 annualized dividend and a yield of 1.2%. Cinemark's payout ratio is currently 17.49%.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction on Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the completion of the transaction, the executive vice president directly owned 203,768 shares of the company's stock, valued at $5,128,840.56. The trade was a 3.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

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.

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