Sei Investments Co. Buys 86,585 Shares of Cinemark Holdings Inc $CNK

Key Points

• Sei Investments more than doubled its Cinemark stake in the first quarter, adding 86,585 shares to own 162,635 shares valued at approximately $4.64 million. Several other institutional investors also increased their positions or initiated new stakes.
• Analysts remain broadly positive, with nine Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $38.00; Wedbush set the highest target at $43.00.
• Cinemark exceeded quarterly expectations, reporting $1.19 in EPS versus the $1.03 estimate and $1.09 billion in revenue, up 15.5% year over year. The company also pays a quarterly dividend of $0.09 per share, equivalent to a 1.0% annualized yield.

Sei Investments Co. grew its stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 113.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,635 shares of the company's stock after acquiring an additional 86,585 shares during the quarter. Sei Investments Co. owned about 0.14% of Cinemark worth $4,638,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CNK. State of New Jersey Common Pension Fund D bought a new stake in Cinemark during the fourth quarter valued at about $1,661,000. UBS Group AG raised its holdings in Cinemark by 49.8% in the fourth quarter. UBS Group AG now owns 1,100,402 shares of the company's stock worth $25,573,000 after purchasing an additional 365,630 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Cinemark by 80.1% during the first quarter. GHP Investment Advisors Inc. now owns 41,764 shares of the company's stock valued at $1,191,000 after buying an additional 18,579 shares during the last quarter. Saber Capital Managment LLC purchased a new stake in shares of Cinemark during the fourth quarter valued at about $6,300,000. Finally, WINTON GROUP Ltd boosted its holdings in shares of Cinemark by 635.9% in the 4th quarter. WINTON GROUP Ltd now owns 177,734 shares of the company's stock valued at $4,131,000 after buying an additional 153,582 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CNK shares. Wells Fargo & Company lifted their price objective on shares of Cinemark from $31.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $40.00 target price on shares of Cinemark in a research report on Friday, July 31st. Moffett Nathanson restated a "buy" rating and issued a $40.00 target price on shares of Cinemark in a research note on Thursday, July 30th. Roth Capital set a $40.00 price target on shares of Cinemark in a report on Thursday, July 30th. Finally, Wedbush upped their price target on Cinemark from $40.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Cinemark Price Performance

Shares of NYSE CNK opened at $37.76 on Thursday. The business's 50 day moving average price is $32.24 and its 200 day moving average price is $28.84. The firm has a market cap of $4.38 billion, a P/E ratio of 22.34 and a beta of 1.00. Cinemark Holdings Inc has a 52 week low of $21.60 and a 52 week high of $38.98. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.16. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. Cinemark's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. On average, sell-side analysts expect that Cinemark Holdings Inc will post 2.34 earnings per share for the current year.

Cinemark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Cinemark's payout ratio is currently 21.30%.

Cinemark Company 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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