Assetmark Inc. Increases Holdings in Cinemark Holdings Inc $CNK

Assetmark Inc. boosted its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 50.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 155,174 shares of the company’s stock after buying an additional 52,027 shares during the period. Assetmark Inc. owned 0.13% of Cinemark worth $4,426,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Cinemark by 12.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,721 shares of the company’s stock worth $277,000 after acquiring an additional 1,041 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Cinemark by 2.3% in the first quarter. Principal Financial Group Inc. now owns 504,805 shares of the company’s stock valued at $14,397,000 after purchasing an additional 11,292 shares during the period. Fifth Third Bancorp grew its holdings in shares of Cinemark by 4,151.3% in the first quarter. Fifth Third Bancorp now owns 27,251 shares of the company’s stock valued at $777,000 after purchasing an additional 26,610 shares during the period. Hodges Capital Management Inc. increased its position in Cinemark by 31.9% during the first quarter. Hodges Capital Management Inc. now owns 243,595 shares of the company’s stock worth $6,947,000 after purchasing an additional 58,948 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in Cinemark by 13.0% during the first quarter. Pictet Asset Management Holding SA now owns 18,532 shares of the company’s stock worth $529,000 after purchasing an additional 2,125 shares during the last quarter.

Wall Street Analysts Forecast Growth

CNK has been the topic of several analyst reports. Benchmark lifted their price target on shares of Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research report on Wednesday, June 24th. Wells Fargo & Company reissued an “equal weight” rating and set a $31.00 target price (down from $36.00) on shares of Cinemark in a research note on Thursday, July 16th. Morgan Stanley lifted their target price on Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. Finally, Roth Capital restated a “buy” rating and issued a $38.00 target price on shares of Cinemark in a research report on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.58.

Cinemark Price Performance

CNK stock opened at $32.24 on Thursday. The business’s fifty day moving average price is $30.45 and its 200 day moving average price is $27.98. Cinemark Holdings Inc has a 12-month low of $21.60 and a 12-month high of $34.73. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. The company has a market capitalization of $3.77 billion, a PE ratio of 28.53 and a beta of 0.98.

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 analyst estimates 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 period in the prior year, the firm earned ($0.32) earnings per share. On average, sell-side analysts anticipate that Cinemark Holdings Inc will post 2.14 EPS for the current year.

Cinemark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a $0.09 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. Cinemark’s payout ratio is 31.86%.

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.