Colony Group LLC purchased a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,127 shares of the company’s stock, valued at approximately $237,000.
Several other hedge funds also recently added to or reduced their stakes in CNK. Quadrant Capital Group LLC raised its position in shares of Cinemark by 537.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 937 shares of the company’s stock worth $34,000 after buying an additional 790 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Cinemark during the 2nd quarter worth about $49,000. Quest Capital Management Inc. ADV bought a new stake in shares of Cinemark during the 3rd quarter worth about $54,000. Marshall Wace LLP bought a new stake in shares of Cinemark during the 1st quarter worth about $65,000. Finally, Cerebellum GP LLC bought a new stake in shares of Cinemark during the 3rd quarter worth about $118,000. Institutional investors own 99.89% of the company’s stock.
A number of analysts have commented on CNK shares. Goldman Sachs Group set a $43.00 price target on shares of Cinemark and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wedbush reiterated a “buy” rating and issued a $45.00 target price on shares of Cinemark in a report on Tuesday, November 5th. Barrington Research reiterated a “buy” rating and issued a $49.00 target price on shares of Cinemark in a report on Tuesday, November 5th. MKM Partners dropped their target price on shares of Cinemark from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Finally, TheStreet downgraded shares of Cinemark from a “b-” rating to a “c+” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Cinemark currently has a consensus rating of “Buy” and an average price target of $43.00.
Cinemark (NYSE:CNK) last released its earnings results on Tuesday, November 5th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.23). Cinemark had a return on equity of 14.25% and a net margin of 5.60%. The business had revenue of $821.82 million during the quarter, compared to the consensus estimate of $807.69 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts anticipate that Cinemark Holdings, Inc. will post 2.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 3rd. Cinemark’s dividend payout ratio (DPR) is currently 74.32%.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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