Alps Advisors Inc. cut its stake in Cinemark Holdings Inc. (NYSE:CNK) by 6.8% during the second quarter, Holdings Channel reports. The fund owned 11,340 shares of the company’s stock after selling 832 shares during the period. Alps Advisors Inc.’s holdings in Cinemark Holdings were worth $413,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. 1832 Asset Management L.P. increased its stake in shares of Cinemark Holdings by 377.4% in the first quarter. 1832 Asset Management L.P. now owns 1,068,794 shares of the company’s stock valued at $63,160,000 after buying an additional 844,925 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Cinemark Holdings by 10.3% in the first quarter. BlackRock Fund Advisors now owns 6,126,668 shares of the company’s stock valued at $219,519,000 after buying an additional 569,842 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Cinemark Holdings during the second quarter valued at $15,926,000. American Century Companies Inc. acquired a new stake in shares of Cinemark Holdings during the second quarter valued at $10,878,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Cinemark Holdings by 105.3% in the first quarter. Goldman Sachs Group Inc. now owns 391,291 shares of the company’s stock valued at $14,020,000 after buying an additional 200,721 shares during the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
Cinemark Holdings Inc. (NYSE:CNK) traded down 0.18% during mid-day trading on Friday, hitting $39.56. The stock had a trading volume of 558,218 shares. The stock has a market cap of $4.57 billion, a P/E ratio of 21.17 and a beta of 1.01. Cinemark Holdings Inc. has a 52-week low of $26.56 and a 52-week high of $39.88. The firm has a 50-day moving average of $38.45 and a 200-day moving average of $36.51.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.05. Cinemark Holdings had a return on equity of 19.68% and a net margin of 7.58%. The company had revenue of $744.40 million for the quarter, compared to analysts’ expectations of $746.05 million. During the same period in the prior year, the company posted $0.61 EPS. The firm’s revenue was down 6.9% compared to the same quarter last year. On average, analysts forecast that Cinemark Holdings Inc. will post $1.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Wednesday, August 31st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.73%. The ex-dividend date was Monday, August 29th. Cinemark Holdings’s dividend payout ratio (DPR) is presently 58.06%.
CNK has been the topic of several recent analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cinemark Holdings in a report on Sunday, July 10th. Loop Capital assumed coverage on Cinemark Holdings in a report on Tuesday, August 23rd. They set a “buy” rating and a $44.00 price objective on the stock. Wedbush restated a “neutral” rating and set a $40.00 price objective on shares of Cinemark Holdings in a report on Thursday, September 22nd. Credit Suisse Group AG assumed coverage on Cinemark Holdings in a report on Monday, June 13th. They set a “neutral” rating and a $33.00 price objective on the stock. Finally, Drexel Hamilton restated a “buy” rating on shares of Cinemark Holdings in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Cinemark Holdings currently has an average rating of “Hold” and an average price target of $40.46.
About Cinemark Holdings
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
Want to see what other hedge funds are holding CNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cinemark Holdings Inc. (NYSE:CNK).
Receive News & Ratings for Cinemark Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cinemark Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.