Tectonic Advisors LLC Decreases Stock Position in Cinemark Holdings Inc $CNK

Key Points

• Tectonic Advisors LLC reduced its stake in Cinemark Holdings Inc by 23.6%, holding 31,831 shares worth approximately $961,000 after selling 9,814 shares in the second quarter.
• Cinemark reported a missed EPS estimate of $0.63 for the last quarter, falling short of the consensus estimate of $0.78, with revenue also slightly below expectations at $940.5 million.
• The company has declared a quarterly dividend of $0.08 per share, resulting in a 1.2% yield, as indicated by its current payout ratio of 17.49%.

Tectonic Advisors LLC lowered its stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 23.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,831 shares of the company's stock after selling 9,814 shares during the quarter. Tectonic Advisors LLC's holdings in Cinemark were worth $961,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CNK. Russell Investments Group Ltd. lifted its stake in Cinemark by 242.9% in the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company's stock worth $88,000 after purchasing an additional 2,502 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cinemark by 66.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,474 shares of the company's stock worth $105,000 after purchasing an additional 1,384 shares in the last quarter. CWM LLC lifted its stake in Cinemark by 20.6% in the 1st quarter. CWM LLC now owns 6,548 shares of the company's stock worth $163,000 after purchasing an additional 1,118 shares in the last quarter. Twin Tree Management LP lifted its stake in Cinemark by 2,790.7% in the 1st quarter. Twin Tree Management LP now owns 8,354 shares of the company's stock worth $208,000 after purchasing an additional 8,065 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Cinemark during the 2nd quarter valued at about $247,000.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $26.60 on Friday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.84 and a beta of 1.75. Cinemark Holdings Inc has a 12 month low of $23.12 and a 12 month high of $36.28. The firm's 50-day moving average is $26.72 and its 200 day moving average is $28.70. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.15). The firm had revenue of $940.50 million for the quarter, compared to the consensus estimate of $942.14 million. Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The business's revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. Research analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, August 27th. Cinemark's dividend payout ratio is presently 17.49%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNK. Barrington Research restated an "outperform" rating and set a $36.00 target price on shares of Cinemark in a research report on Tuesday, September 23rd. Benchmark restated a "buy" rating and set a $35.00 target price on shares of Cinemark in a research report on Wednesday, July 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of Cinemark in a research report on Wednesday. Wells Fargo & Company restated an "overweight" rating and set a $33.00 target price (down from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Finally, Zacks Research upgraded shares of Cinemark from a "strong sell" rating to a "hold" rating in a research report on Friday, October 3rd. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.40.

Insider Buying and Selling

In related news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $25.17, for a total transaction of $181,224.00. Following the transaction, the executive vice president directly owned 203,768 shares in the company, valued at approximately $5,128,840.56. This represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company's stock.

Cinemark Company 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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