UBS Group AG Acquires 365,630 Shares of Cinemark Holdings Inc $CNK

Key Points

• UBS Group AG increased its Cinemark stake by 49.8% in the fourth quarter, buying 365,630 additional shares and bringing its total holding to 1.1 million shares worth about $25.6 million.
• Cinemark recently reported mixed quarterly results: revenue of $643.1 million beat expectations, but earnings per share came in slightly below analyst estimates at -$0.06.
• Wall Street remains broadly positive on the stock, with a Moderate Buy consensus rating and an average price target of $33.31, while the shares recently traded around $27.05.

UBS Group AG raised its holdings in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 49.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,100,402 shares of the company's stock after acquiring an additional 365,630 shares during the period. UBS Group AG owned approximately 0.94% of Cinemark worth $25,573,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $28,000 after buying an additional 507 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Cinemark in the 3rd quarter worth $63,000. Smartleaf Asset Management LLC boosted its stake in shares of Cinemark by 20.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company's stock worth $83,000 after buying an additional 506 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Cinemark by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company's stock worth $93,000 after buying an additional 1,372 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in shares of Cinemark during the 4th quarter worth about $121,000.

Cinemark Price Performance

Shares of NYSE:CNK opened at $27.05 on Monday. The firm has a market cap of $3.16 billion, a PE ratio of 23.94 and a beta of 1.03. The firm's fifty day moving average is $28.31 and its 200-day moving average is $26.43. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. Cinemark Holdings Inc has a 52 week low of $21.60 and a 52 week high of $34.01.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The business had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.Cinemark's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) EPS. Sell-side analysts predict that Cinemark Holdings Inc will post 2.11 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cinemark's payout ratio is 31.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barrington Research reiterated an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a research note on Monday, May 4th. Moffett Nathanson upgraded shares of Cinemark from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a research report on Tuesday, January 20th. Macquarie Infrastructure cut their price objective on shares of Cinemark from $36.00 to $34.00 and set an "outperform" rating for the company in a research report on Thursday, January 15th. Benchmark reaffirmed a "buy" rating on shares of Cinemark in a report on Thursday, February 19th. Finally, Wells Fargo & Company lifted their price objective on shares of Cinemark from $32.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and a consensus target price of $33.31.

Cinemark 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.

Want to see what other hedge funds are holding CNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cinemark Holdings Inc (NYSE:CNK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.