Profund Advisors LLC Decreases Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Profund Advisors LLC reduced its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,576 shares of the company’s stock after selling 473 shares during the period. Profund Advisors LLC’s holdings in Cinemark were worth $382,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CNK. Mesirow Financial Investment Management Equity Management purchased a new position in Cinemark during the second quarter worth about $49,000. Marshall Wace LLP purchased a new position in Cinemark during the first quarter worth about $65,000. Cutler Group LP purchased a new position in Cinemark during the first quarter worth about $115,000. Machina Capital S.A.S. raised its stake in Cinemark by 569.4% during the second quarter. Machina Capital S.A.S. now owns 4,686 shares of the company’s stock worth $169,000 after purchasing an additional 3,986 shares during the period. Finally, Quantamental Technologies LLC purchased a new position in Cinemark during the second quarter worth about $173,000. 99.84% of the stock is currently owned by institutional investors.

In other Cinemark news, CFO Sean Gamble sold 5,669 shares of Cinemark stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $41.50, for a total transaction of $235,263.50. Following the completion of the sale, the chief financial officer now directly owns 126,025 shares in the company, valued at $5,230,037.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.00% of the stock is owned by company insiders.

A number of brokerages have commented on CNK. MKM Partners reduced their target price on shares of Cinemark from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Morgan Stanley reduced their target price on shares of Cinemark from $41.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 23rd. Wedbush reaffirmed a “buy” rating and set a $49.00 target price on shares of Cinemark in a research note on Friday, August 2nd. ValuEngine raised shares of Cinemark from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Credit Suisse Group began coverage on shares of Cinemark in a research note on Friday, July 19th. They set an “outperform” rating and a $43.00 target price on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.00.

Shares of CNK traded up $0.16 during trading on Friday, reaching $37.92. 1,080,743 shares of the company traded hands, compared to its average volume of 771,974. Cinemark Holdings, Inc. has a twelve month low of $34.49 and a twelve month high of $43.51. The stock has a market cap of $4.52 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.10 and a beta of 0.70. The stock has a 50-day simple moving average of $38.51 and a 200-day simple moving average of $39.03. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 2.08.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Cinemark had a net margin of 6.31% and a return on equity of 13.75%. The business had revenue of $957.76 million during the quarter, compared to analysts’ expectations of $906.57 million. On average, equities research analysts predict that Cinemark Holdings, Inc. will post 2.34 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Tuesday, September 3rd. Cinemark’s dividend payout ratio is presently 74.32%.

Cinemark Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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