Sierra Summit Advisors LLC Takes Position in Cinemark Holdings Inc $CNK

Sierra Summit Advisors LLC purchased a new stake in shares of Cinemark Holdings Inc (NYSE:CNK) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,306 shares of the company’s stock, valued at approximately $625,000.

A number of other institutional investors have also added to or reduced their stakes in CNK. EverSource Wealth Advisors LLC lifted its position in Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 507 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Cinemark in the 2nd quarter worth about $47,000. Financial Consulate Inc. bought a new position in shares of Cinemark in the 3rd quarter worth about $50,000. Meeder Asset Management Inc. purchased a new position in Cinemark during the 3rd quarter valued at about $63,000. Finally, Smartleaf Asset Management LLC lifted its position in Cinemark by 20.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after acquiring an additional 506 shares during the period.

Cinemark Stock Performance

CNK stock opened at $28.23 on Monday. The stock has a market capitalization of $3.26 billion, a PE ratio of 32.45 and a beta of 1.08. The stock’s 50 day simple moving average is $24.31 and its 200 day simple moving average is $25.94. Cinemark Holdings Inc has a 12-month low of $21.60 and a 12-month high of $34.01. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The business had revenue of $776.30 million for the quarter, compared to the consensus estimate of $778.41 million. During the same period in the previous year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. Cinemark’s dividend payout ratio (DPR) is presently 41.38%.

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the completion of the transaction, the executive vice president directly owned 159,416 shares of the company’s stock, valued at $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CNK shares. Roth Mkm reaffirmed a “buy” rating and set a $36.00 target price on shares of Cinemark in a research note on Thursday, February 19th. JPMorgan Chase & Co. cut their price target on Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. Wall Street Zen upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Macquarie Infrastructure dropped their target price on Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $22.00 price target on shares of Cinemark in a report on Thursday, February 19th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.08.

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.