Edgestream Partners L.P. Takes Position in Cinemark Holdings Inc $CNK

Edgestream Partners L.P. purchased a new position in shares of Cinemark Holdings Inc (NYSE:CNK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 197,401 shares of the company’s stock, valued at approximately $5,958,000. Edgestream Partners L.P. owned about 0.17% of Cinemark at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in Cinemark by 106.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company’s stock worth $78,147,000 after buying an additional 1,338,153 shares during the last quarter. Nuveen LLC acquired a new position in shares of Cinemark during the first quarter worth about $32,297,000. Wellington Management Group LLP raised its holdings in Cinemark by 12.9% during the first quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company’s stock worth $232,643,000 after purchasing an additional 1,066,225 shares in the last quarter. Rivermont Capital Management LP purchased a new position in Cinemark during the first quarter worth about $11,000,000. Finally, Kodai Capital Management LP acquired a new stake in Cinemark in the first quarter valued at about $8,465,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CNK shares. Roth Capital reiterated a “buy” rating and set a $35.00 target price on shares of Cinemark in a research report on Wednesday, November 5th. Wall Street Zen raised Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a report on Monday. Zacks Research raised shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley cut their price target on shares of Cinemark from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.30.

Cinemark Trading Down 6.2%

NYSE:CNK opened at $25.23 on Wednesday. The company has a market capitalization of $2.96 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 2.54 and a beta of 1.10. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 5.01. Cinemark Holdings Inc has a 52-week low of $23.12 and a 52-week high of $36.07. The stock has a fifty day simple moving average of $27.69 and a 200-day simple moving average of $28.58.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The business had revenue of $857.50 million during the quarter, compared to analyst estimates of $851.47 million. Cinemark had a net margin of 4.93% and a return on equity of 34.33%. Cinemark’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. On average, equities research analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, November 28th. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. This is an increase from Cinemark’s previous quarterly dividend of $0.08. Cinemark’s payout ratio is presently 34.62%.

About Cinemark

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.