Y Intercept Hong Kong Ltd Acquires New Stake in Cinemark Holdings Inc $CNK

Y Intercept Hong Kong Ltd acquired a new stake in Cinemark Holdings Inc (NYSE:CNK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,598 shares of the company’s stock, valued at approximately $1,316,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in Cinemark by 242.9% during the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company’s stock worth $88,000 after acquiring an additional 2,502 shares during the period. GAMMA Investing LLC grew its holdings in Cinemark by 66.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,474 shares of the company’s stock worth $105,000 after acquiring an additional 1,384 shares during the period. CWM LLC grew its holdings in Cinemark by 20.6% during the 1st quarter. CWM LLC now owns 6,548 shares of the company’s stock worth $163,000 after acquiring an additional 1,118 shares during the period. Praxis Investment Management Inc. acquired a new stake in Cinemark during the 2nd quarter worth about $200,000. Finally, Twin Tree Management LP grew its holdings in Cinemark by 2,790.7% during the 1st quarter. Twin Tree Management LP now owns 8,354 shares of the company’s stock worth $208,000 after acquiring an additional 8,065 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CNK. Deutsche Bank Aktiengesellschaft began coverage on Cinemark in a report on Thursday, July 10th. They set a “buy” rating and a $36.00 price target for the company. Wells Fargo & Company reiterated an “overweight” rating and set a $33.00 price target (down from $36.00) on shares of Cinemark in a report on Monday, August 4th. Roth Capital decreased their price target on Cinemark from $36.00 to $34.00 and set a “buy” rating for the company in a report on Monday, August 4th. Barrington Research reiterated an “outperform” rating and set a $36.00 price target on shares of Cinemark in a report on Tuesday, September 23rd. Finally, Morgan Stanley reduced their target price on Cinemark from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.30.

Cinemark Stock Performance

Shares of CNK opened at $27.08 on Monday. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a 50-day moving average of $26.98 and a 200-day moving average of $28.81. The company has a market cap of $3.12 billion, a PE ratio of 14.80, a P/E/G ratio of 1.96 and a beta of 1.75. Cinemark Holdings Inc has a one year low of $23.12 and a one year high of $36.28.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.15). The firm had revenue of $940.50 million during the quarter, compared to analyst estimates of $942.14 million. Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The business’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, equities research analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were paid a $0.08 dividend. The ex-dividend date was Wednesday, August 27th. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Cinemark’s dividend payout ratio (DPR) is currently 17.49%.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the transaction, the executive vice president owned 203,768 shares in the company, valued at approximately $5,128,840.56. The trade was a 3.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.