Riverwater Partners LLC Makes New $763,000 Investment in Cinemark Holdings Inc $CNK

Riverwater Partners LLC bought a new position in Cinemark Holdings Inc (NYSE:CNK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,224 shares of the company’s stock, valued at approximately $763,000.

Other hedge funds have also recently modified their holdings of the company. Marshall Wace LLP grew its holdings in shares of Cinemark by 758.9% in the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock worth $135,729,000 after acquiring an additional 3,973,689 shares during the period. Squarepoint Ops LLC grew its position in shares of Cinemark by 119.9% during the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock worth $65,808,000 after purchasing an additional 1,188,709 shares in the last quarter. Man Group plc purchased a new stake in Cinemark during the 2nd quarter valued at approximately $33,953,000. SG Americas Securities LLC grew its stake in Cinemark by 102.4% during the third quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $680,000 after acquiring an additional 1,023,333 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Cinemark during the second quarter valued at about $27,373,000.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total transaction of $547,854.42. Following the transaction, the executive vice president owned 167,360 shares in the company, valued at approximately $4,152,201.60. This represents a 11.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

Cinemark Price Performance

Shares of NYSE CNK opened at $23.64 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 5.01. The business’s 50 day moving average price is $24.46 and its 200 day moving average price is $26.34. Cinemark Holdings Inc has a 52 week low of $21.60 and a 52 week high of $34.01. The firm has a market cap of $2.78 billion, a P/E ratio of 22.73, a P/E/G ratio of 2.41 and a beta of 1.10.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The business had revenue of $857.50 million for the quarter, compared to analyst estimates of $851.47 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, sell-side analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, November 28th. This is a positive change from Cinemark’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.5%. Cinemark’s dividend payout ratio is presently 34.62%.

Analysts Set New Price Targets

A number of equities analysts have commented on CNK shares. Barrington Research dropped their price objective on shares of Cinemark from $36.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday. UBS Group upgraded Cinemark to a “buy” rating in a report on Tuesday, January 20th. Moffett Nathanson raised shares of Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, January 20th. JPMorgan Chase & Co. decreased their price objective on Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Finally, B. Riley reduced their price objective on shares of Cinemark from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 22nd. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

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.