Assenagon Asset Management S.A. Sells 942,966 Shares of Cinemark Holdings Inc $CNK

Assenagon Asset Management S.A. lessened its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 97.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,849 shares of the company’s stock after selling 942,966 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cinemark were worth $461,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 507 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Cinemark in the second quarter valued at about $47,000. Financial Consulate Inc. purchased a new position in Cinemark in the third quarter worth about $50,000. Meeder Asset Management Inc. purchased a new position in Cinemark in the third quarter worth about $63,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Cinemark by 20.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after purchasing an additional 506 shares during the period.

Insider Transactions at Cinemark

In related news, EVP Melissa Thomas sold 7,944 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 159,416 shares of the company’s stock, valued at approximately $4,152,786.80. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Cinemark Stock Up 0.3%

Shares of CNK stock opened at $28.60 on Thursday. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67. Cinemark Holdings Inc has a one year low of $21.60 and a one year high of $34.01. The company’s fifty day moving average price is $26.21 and its 200-day moving average price is $26.12. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 32.87 and a beta of 1.09.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $776.30 million during the quarter, compared to analysts’ expectations of $778.41 million. Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. Sell-side analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cinemark’s dividend payout ratio (DPR) is 41.38%.

Analyst Ratings Changes

Several research firms have recently commented on CNK. Barrington Research reaffirmed an “outperform” rating and set a $32.00 price target on shares of Cinemark in a research report on Thursday, February 19th. Wells Fargo & Company cut their target price on shares of Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. B. Riley Financial reaffirmed a “neutral” rating on shares of Cinemark in a report on Thursday, February 19th. Macquarie Infrastructure decreased their price target on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $22.00 price target on shares of Cinemark in a research note on Thursday, February 19th. Ten 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.08.

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.