Junto Capital Management LP Makes New Investment in Cinemark Holdings Inc $CNK

Junto Capital Management LP bought a new stake in shares of Cinemark Holdings Inc (NYSE:CNK) in the third quarter, Holdings Channel reports. The fund bought 910,376 shares of the company’s stock, valued at approximately $25,509,000.

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

Insider Buying and Selling

In related news, EVP Melissa Thomas sold 7,944 shares of the company’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 in the company, valued at approximately $4,152,786.80. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CNK. Macquarie Infrastructure dropped their target price on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a research note on Monday, December 29th. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. The Goldman Sachs Group reaffirmed a “sell” rating and set a $22.00 price objective on shares of Cinemark in a research note on Thursday, February 19th. Finally, Barrington Research reiterated an “outperform” rating and issued a $32.00 price objective on shares of Cinemark in a report on Thursday, February 19th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Price Performance

Cinemark 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 stock 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 50-day moving average price of $25.18 and a 200 day moving average price of $26.02. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74.

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

Cinemark Announces Dividend

The company 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. 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 payout ratio is presently 41.38%.

Cinemark Company 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.