First Trust Advisors LP Trims Stock Holdings in Cinemark Holdings Inc $CNK

First Trust Advisors LP reduced its position in Cinemark Holdings Inc (NYSE:CNK) by 41.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,671 shares of the company’s stock after selling 65,182 shares during the quarter. First Trust Advisors LP’s holdings in Cinemark were worth $2,586,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CNK. EverSource Wealth Advisors LLC increased its holdings in shares of 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 acquiring an additional 507 shares during the period. Leonteq Securities AG purchased a new stake in Cinemark in the 4th quarter valued at $83,000. KBC Group NV boosted its stake in Cinemark by 56.9% during the 1st quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after purchasing an additional 1,572 shares during the period. Kestra Advisory Services LLC acquired a new stake in Cinemark during the 4th quarter worth $102,000. Finally, Bayforest Capital Ltd purchased a new position in Cinemark during the 4th quarter worth $121,000.

Analysts Set New Price Targets

CNK has been the subject of a number of research reports. Moffett Nathanson reaffirmed a “buy” rating and issued a $40.00 target price on shares of Cinemark in a report on Thursday, July 30th. Morgan Stanley set a $40.00 price target on Cinemark in a report on Wednesday, July 29th. Barrington Research set a $42.00 price target on Cinemark in a report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on Cinemark from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Guggenheim set a $37.00 price objective on Cinemark in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Cinemark Trading Down 2.2%

NYSE:CNK opened at $37.11 on Friday. The stock has a fifty day moving average price of $32.63 and a two-hundred day moving average price of $29.00. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 21.96 and a beta of 1.00. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $38.98.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.03 by $0.16. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Cinemark Holdings Inc will post 2.34 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, May 28th. Cinemark’s dividend payout ratio is presently 21.30%.

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.