Sequoia Financial Advisors LLC Makes New $2.48 Million Investment in Cinemark Holdings Inc $CNK

Key Points

• Sequoia Financial Advisors acquired 78,056 Cinemark shares worth approximately $2.48 million, while several other institutional investors also increased or initiated positions.
• Cinemark reported strong quarterly results, with EPS of $1.19 surpassing estimates of $1.03 and revenue rising 15.5% year over year to $1.09 billion.
• The company paid a quarterly dividend of $0.09, equivalent to an annualized $0.36 and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $37.93.

Sequoia Financial Advisors LLC acquired a new position in Cinemark Holdings Inc (NYSE:CNK - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 78,056 shares of the company's stock, valued at approximately $2,477,000. Sequoia Financial Advisors LLC owned 0.07% of Cinemark at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Cinemark during the 2nd quarter worth approximately $530,855,000. Orbis Allan Gray Ltd raised its holdings in Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company's stock valued at $349,946,000 after buying an additional 3,563,810 shares during the period. Wellington Management Group LLP lifted its position in Cinemark by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company's stock valued at $221,638,000 after buying an additional 742,307 shares in the last quarter. Lavaca Capital LLC acquired a new position in Cinemark during the fourth quarter valued at approximately $133,045,000. Finally, State Street Corp grew its stake in Cinemark by 1.5% during the fourth quarter. State Street Corp now owns 3,950,606 shares of the company's stock worth $91,812,000 after buying an additional 60,176 shares during the period.

Cinemark Stock Performance

Cinemark stock opened at $35.09 on Monday. Cinemark Holdings Inc has a 12-month low of $21.60 and a 12-month high of $38.98. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 20.76 and a beta of 0.98. The firm's fifty day moving average price is $34.63 and its 200 day moving average price is $31.05.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.16. The company had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. On average, research analysts forecast that Cinemark Holdings Inc will post 2.36 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th were paid a $0.09 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Cinemark's payout ratio is 21.30%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNK. Roth Capital set a $40.00 target price on shares of Cinemark in a research note on Thursday, July 30th. Morgan Stanley set a $40.00 price target on shares of Cinemark in a research report on Wednesday, July 29th. Wall Street Zen downgraded Cinemark from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. B. Riley Financial raised their price objective on Cinemark from $35.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Finally, Barrington Research set a $42.00 price objective on Cinemark in a research note on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.93.

About Cinemark

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.

In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.

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