Quantbot Technologies LP Buys Shares of 116,512 Cinemark Holdings Inc $CNK

Key Points

• Quantbot Technologies LP has acquired a new position in Cinemark Holdings Inc, purchasing 116,512 shares valued at approximately $2.9 million.
• Cinemark reported quarterly earnings of $0.63 EPS, missing expectations, while its revenue increased by 28.1% year-over-year.
• The company declared a quarterly dividend of $0.08, with a yield of 1.2%, set to be paid on September 10th.

Quantbot Technologies LP acquired a new position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 116,512 shares of the company's stock, valued at approximately $2,900,000. Quantbot Technologies LP owned about 0.10% of Cinemark at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. LPL Financial LLC increased its position in Cinemark by 6.8% during the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company's stock worth $270,000 after buying an additional 556 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after acquiring an additional 825 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Cinemark during the 4th quarter worth approximately $1,494,000. CANADA LIFE ASSURANCE Co raised its stake in Cinemark by 1.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 125,238 shares of the company's stock valued at $3,877,000 after acquiring an additional 1,827 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Cinemark by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,959,183 shares of the company's stock valued at $91,676,000 after purchasing an additional 34,402 shares during the last quarter.

Cinemark Stock Performance

Shares of CNK traded down $0.29 during mid-day trading on Tuesday, hitting $25.87. 3,467,900 shares of the company's stock were exchanged, compared to its average volume of 4,688,021. 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 firm has a market cap of $2.98 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.87 and a beta of 1.90. The stock's 50-day simple moving average is $28.43 and its 200-day simple moving average is $28.64. Cinemark Holdings Inc has a 52 week low of $23.12 and a 52 week high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.63 earnings per share (EPS) 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 company 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 company earned $0.32 EPS. The company's quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current 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 given a $0.08 dividend. The ex-dividend date is Wednesday, August 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. Cinemark's dividend payout ratio (DPR) is presently 17.49%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. B. Riley initiated coverage on shares of Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective on the stock. Roth Capital reduced their target price on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday, August 4th. Benchmark reissued a "buy" rating and issued a $35.00 price target on shares of Cinemark in a report on Wednesday, July 2nd. 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, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $33.00 target price (down previously from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Cinemark presently has an average rating of "Moderate Buy" and a consensus target price of $33.67.

Insiders Place Their Bets

In related news, EVP Melissa Thomas sold 7,200 shares of the business'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 completion of the transaction, the executive vice president owned 203,768 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, insider Wanda Marie Gierhart sold 52,524 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the sale, the insider directly owned 94,890 shares of the company's stock, valued at $3,022,246.50. This represents a 35.63% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently 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.