Delta Global Management LP Makes New Investment in Cinemark Holdings Inc $CNK

Delta Global Management LP acquired a new stake in Cinemark Holdings Inc (NYSE:CNK) during the third quarter, according to its most recent filing with the SEC. The firm acquired 90,547 shares of the company’s stock, valued at approximately $2,537,000. Delta Global Management LP owned about 0.08% of Cinemark as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cinemark by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock valued at $1,635,000 after acquiring an additional 2,872 shares during the last quarter. Woodline Partners LP acquired a new position in Cinemark during the 1st quarter valued at about $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cinemark by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after purchasing an additional 25,490 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Cinemark during the 1st quarter worth approximately $372,000. Finally, Candriam S.C.A. bought a new stake in shares of Cinemark during the second quarter worth approximately $1,238,000.

Cinemark Price Performance

Shares of CNK stock opened at $25.78 on Monday. Cinemark Holdings Inc has a 12-month low of $21.60 and a 12-month high of $34.01. The firm has a market capitalization of $2.98 billion, a price-to-earnings 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. The firm has a fifty day moving average of $25.18 and a 200-day moving average of $26.02.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $776.30 million for the quarter, compared to analyst estimates of $778.41 million. Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. On average, equities research analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CNK shares. Wall Street Zen raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. JPMorgan Chase & Co. dropped their target price on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. UBS Group raised Cinemark to a “buy” rating in a research note on Tuesday, January 20th. Roth Mkm restated a “buy” rating and issued a $36.00 price target on shares of Cinemark in a research report on Thursday, February 19th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 price objective (down from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. Ten 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of Cinemark stock in a transaction dated 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 owned 159,416 shares in the company, valued at $4,152,786.80. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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.