WINTON GROUP Ltd Boosts Stock Position in Cinemark Holdings Inc $CNK

Key Points

• WINTON GROUP Ltd increased its Cinemark stake by 637.5% in the second quarter, ending with 117,527 shares valued at approximately $3.7 million. Several other institutional investors also initiated or expanded positions.
• Cinemark reported quarterly earnings of $1.19 per share, beating estimates of $1.03, while revenue rose 15.5% year over year to $1.09 billion. Analysts expect full-year EPS of approximately $2.36.
• CNK traded at $35.12, below its 52-week high of $38.98, and maintains a $0.09 quarterly dividend. Analysts give the stock a consensus “Moderate Buy” rating with an average price target of $37.93.

WINTON GROUP Ltd boosted its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 637.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,527 shares of the company's stock after acquiring an additional 101,592 shares during the quarter. WINTON GROUP Ltd owned about 0.10% of Cinemark worth $3,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $28,000 after purchasing an additional 507 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Cinemark in the 2nd quarter valued at $32,000. Integrated Wealth Concepts LLC acquired a new position in Cinemark in the 2nd quarter valued at $60,000. Leonteq Securities AG acquired a new position in Cinemark in the 4th quarter valued at $83,000. Finally, Kestra Advisory Services LLC purchased a new position in Cinemark during the 4th quarter worth $102,000.

Cinemark Trading Down 0.7%

NYSE:CNK opened at $35.12 on Friday. 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. The stock has a fifty day simple moving average of $34.56 and a 200-day simple moving average of $30.99. The company has a market capitalization of $4.07 billion, a PE ratio of 20.78 and a beta of 0.98.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.16. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.63 EPS. On average, equities research analysts expect that Cinemark Holdings Inc will post 2.36 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were given 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 dividend payout ratio is currently 21.30%.

Wall Street Analyst Weigh In

CNK has been the topic of several analyst reports. Weiss Ratings raised shares of Cinemark from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $40.00 price target on shares of Cinemark in a report on Friday, July 31st. Guggenheim set a $37.00 price objective on shares of Cinemark in a research report on Thursday, July 2nd. Zacks Research lowered Cinemark from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 2nd. Finally, Barrington Research set a $42.00 target price on Cinemark in a research report on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.93.

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.

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