Intech Investment Management LLC Lowers Stock Holdings in Cinemark Holdings Inc $CNK

Intech Investment Management LLC lowered its holdings in shares of Cinemark Holdings Inc (NYSE:CNK) by 53.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 72,788 shares of the company’s stock after selling 83,814 shares during the period. Intech Investment Management LLC’s holdings in Cinemark were worth $1,692,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CNK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cinemark by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock worth $1,635,000 after purchasing an additional 2,872 shares in the last quarter. Woodline Partners LP purchased a new position in Cinemark during the first quarter worth approximately $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Cinemark by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock worth $8,593,000 after purchasing an additional 25,490 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Cinemark during the first quarter worth approximately $372,000. Finally, Russell Investments Group Ltd. boosted its position in Cinemark by 48.0% during the second quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock worth $158,000 after purchasing an additional 1,696 shares in the last quarter.

Wall Street Analysts Forecast Growth

CNK has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on Cinemark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Barrington Research restated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research report on Monday, May 4th. Wells Fargo & Company raised their target price on Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Benchmark restated a “buy” rating on shares of Cinemark in a research report on Thursday, February 19th. Finally, Zacks Research downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.31.

Cinemark Stock Performance

NYSE CNK opened at $30.84 on Friday. The company has a market cap of $3.60 billion, a PE ratio of 27.29 and a beta of 1.00. The stock’s 50 day simple moving average is $28.45 and its 200-day simple moving average is $26.37. Cinemark Holdings Inc has a 1-year low of $21.60 and a 1-year high of $32.95. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58.

Cinemark (NYSE:CNK) last released its earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.32) EPS. As a group, equities research analysts anticipate that Cinemark Holdings Inc will post 2.11 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 28th. Cinemark’s dividend payout ratio (DPR) is 31.86%.

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.