Hudson Bay Capital Management LP Raises Stake in Cinemark Holdings Inc $CNK

Hudson Bay Capital Management LP grew its position in Cinemark Holdings Inc (NYSE:CNK) by 251.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 398,762 shares of the company’s stock after purchasing an additional 285,225 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Cinemark were worth $11,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP increased its stake in Cinemark by 758.9% in the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock worth $135,729,000 after buying an additional 3,973,689 shares in the last quarter. Woodline Partners LP bought a new stake in Cinemark during the third quarter valued at about $33,390,000. Squarepoint Ops LLC lifted its position in shares of Cinemark by 119.9% in the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock valued at $65,808,000 after acquiring an additional 1,188,709 shares in the last quarter. Man Group plc purchased a new position in shares of Cinemark in the second quarter valued at about $33,953,000. Finally, SG Americas Securities LLC boosted its stake in shares of Cinemark by 102.4% in the third quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $680,000 after acquiring an additional 1,023,333 shares during the period.

Insiders Place Their Bets

In related news, EVP Melissa Thomas sold 7,944 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the sale, the executive vice president directly owned 159,416 shares in the company, valued at $4,152,786.80. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CNK shares. Zacks Research upgraded Cinemark from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Roth Mkm restated a “buy” rating and issued a $36.00 price target on shares of Cinemark in a research note on Thursday, February 19th. Benchmark reaffirmed a “buy” rating on shares of Cinemark in a report on Thursday, February 19th. JPMorgan Chase & Co. reduced their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Finally, UBS Group raised shares of Cinemark to a “buy” rating in a report on Tuesday, January 20th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $32.08.

Cinemark Stock Down 1.1%

Shares of NYSE:CNK opened at $26.33 on Friday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 30.26 and a beta of 1.08. 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. The company has a 50-day moving average price of $25.48 and a 200 day moving average price of $26.04.

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

Cinemark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, March 3rd. Cinemark’s dividend payout ratio is presently 41.38%.

About Cinemark

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.