Cinemark Holdings Inc $CNK Shares Acquired by Cartenna Capital LP

Cartenna Capital LP increased its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 29.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,650,000 shares of the company’s stock after buying an additional 375,000 shares during the period. Cinemark comprises approximately 1.3% of Cartenna Capital LP’s holdings, making the stock its 25th biggest holding. Cartenna Capital LP owned about 1.40% of Cinemark worth $46,233,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in Cinemark by 118.5% in 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 purchased a new stake in shares of Cinemark during the second quarter worth about $47,000. Financial Consulate Inc. purchased a new stake in shares of Cinemark during the third quarter worth about $50,000. Meeder Asset Management Inc. acquired a new position in shares of Cinemark in the third quarter worth about $63,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after acquiring an additional 506 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research upgraded Cinemark from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Macquarie Infrastructure cut their target price on Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Moffett Nathanson upgraded Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, January 20th. The Goldman Sachs Group reissued a “sell” rating and set a $22.00 price target on shares of Cinemark in a research report on Thursday, February 19th. Finally, Wells Fargo & Company dropped their price target on shares of Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.08.

Insider Transactions at Cinemark

In related news, EVP Melissa Thomas sold 7,944 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total transaction of $206,941.20. Following the transaction, the executive vice president directly owned 159,416 shares in the company, valued at $4,152,786.80. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

Cinemark Stock Up 1.0%

Shares of Cinemark stock opened at $25.78 on Friday. The business has a 50-day moving average price of $25.18 and a 200 day moving average price of $26.02. Cinemark Holdings Inc has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The firm has a market cap of $2.98 billion, a P/E ratio of 29.63 and a beta of 1.08. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.74.

Cinemark (NYSE:CNK) last released its earnings results on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $776.30 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.33 EPS. On average, sell-side analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 3rd. Cinemark’s dividend payout ratio is currently 41.38%.

Cinemark Profile

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.