Quantbot Technologies LP Purchases New Position in 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 purchased a new stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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 quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elequin Capital LP boosted its stake in Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after buying an additional 677 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after purchasing an additional 825 shares in the last quarter. Quarry LP raised its stake in Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after purchasing an additional 623 shares in the last quarter. CWM LLC raised its stake in Cinemark by 20.6% during the first quarter. CWM LLC now owns 6,548 shares of the company's stock valued at $163,000 after purchasing an additional 1,118 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Cinemark during the fourth quarter valued at $221,000.

Cinemark Stock Up 0.6%

Shares of NYSE CNK opened at $26.6280 on Thursday. 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 cap of $3.06 billion, a P/E ratio of 14.55, a PEG ratio of 1.89 and a beta of 1.90. Cinemark Holdings Inc has a 1 year low of $23.12 and a 1 year high of $36.28. The firm has a 50-day simple moving average of $28.90 and a two-hundred day simple moving average of $28.76.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share (EPS) 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 the consensus estimate of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The firm's revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. Research analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.32 annualized dividend and a yield of 1.2%. Cinemark's dividend payout ratio (DPR) is presently 17.49%.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 52,524 shares of the firm'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 completion of the sale, the insider owned 94,890 shares of the company's stock, valued at $3,022,246.50. This trade represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the sale, the executive vice president directly owned 203,768 shares of the company's stock, valued at approximately $5,128,840.56. The trade was a 3.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,724 shares of company stock valued at $2,679,363 over the last 90 days. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. B. Riley assumed coverage on shares of Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price target for the company. Wedbush upgraded Cinemark from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $32.00 to $37.00 in a report on Friday, July 11th. Benchmark reissued a "buy" rating and set a $35.00 target price on shares of Cinemark in a research report on Wednesday, July 2nd. Wells Fargo & Company reissued an "overweight" rating and set a $33.00 target price (down previously from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Cinemark in a research report on Thursday, July 10th. They set a "buy" rating and a $36.00 target price on the stock. Ten 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.67.

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.

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