Cadence Capital Management LLC Buys 2,546 Shares of Cinemark Holdings Inc (CNK)
Cadence Capital Management LLC lifted its holdings in shares of Cinemark Holdings Inc (NYSE:CNK) by 18.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,546 shares of the company’s stock after acquiring an additional 2,546 shares during the quarter. Cadence Capital Management LLC’s holdings in Cinemark were worth $599,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of CNK. Cable Hill Partners LLC increased its position in shares of Cinemark by 3,300.0% during the third quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock valued at $107,000 after acquiring an additional 2,871 shares during the last quarter. Ffcm LLC purchased a new stake in shares of Cinemark during the third quarter valued at approximately $125,000. Advisor Group Inc. increased its position in shares of Cinemark by 2.3% during the second quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock valued at $145,000 after acquiring an additional 84 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Cinemark during the second quarter valued at approximately $146,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cinemark by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock valued at $147,000 after acquiring an additional 330 shares during the last quarter. 94.63% of the stock is owned by institutional investors.
In other news, CEO Mark Zoradi bought 5,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was acquired at an average cost of $32.19 per share, with a total value of $160,950.00. Following the completion of the transaction, the chief executive officer now directly owns 172,456 shares of the company’s stock, valued at approximately $5,551,358.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.10% of the company’s stock.
Shares of Cinemark Holdings Inc (NYSE:CNK) opened at $35.67 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.50 and a quick ratio of 1.46. Cinemark Holdings Inc has a 52-week low of $32.03 and a 52-week high of $44.84. The stock has a market capitalization of $4,240.56, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.18.
Cinemark (NYSE:CNK) last released its earnings results on Friday, November 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). Cinemark had a return on equity of 18.43% and a net margin of 8.36%. The firm had revenue of $710.70 million during the quarter, compared to analysts’ expectations of $702.60 million. During the same period in the prior year, the business earned $0.56 earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. equities analysts predict that Cinemark Holdings Inc will post 2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 30th. Cinemark’s dividend payout ratio is currently 54.98%.
A number of analysts recently commented on the company. Wedbush set a $42.00 price target on Cinemark and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Cinemark from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. B. Riley set a $47.00 price target on Cinemark and gave the company a “buy” rating in a research report on Wednesday, October 18th. Morgan Stanley raised Cinemark from an “underweight” rating to an “equal weight” rating and set a $38.00 price target for the company in a research report on Thursday, October 5th. Finally, Credit Suisse Group decreased their price target on Cinemark from $34.00 to $30.00 and set an “underperform” rating for the company in a research report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Cinemark currently has an average rating of “Hold” and an average price target of $42.31.
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Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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