Riverhead Capital Management LLC Has $443,000 Position in Cinemark Holdings Inc (CNK)
Riverhead Capital Management LLC increased its holdings in Cinemark Holdings Inc (NYSE:CNK) by 137.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,398 shares of the company’s stock after buying an additional 6,598 shares during the period. Riverhead Capital Management LLC’s holdings in Cinemark Holdings were worth $443,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNK. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cinemark Holdings by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock worth $147,000 after buying an additional 330 shares during the period. Advisors Asset Management Inc. boosted its holdings in Cinemark Holdings by 224.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock worth $185,000 after buying an additional 3,289 shares during the period. Vident Investment Advisory LLC bought a new position in Cinemark Holdings in the 1st quarter worth approximately $200,000. Oppenheimer Asset Management Inc. bought a new position in Cinemark Holdings in the 1st quarter worth approximately $213,000. Finally, Smithfield Trust Co. boosted its holdings in Cinemark Holdings by 1.5% in the 2nd quarter. Smithfield Trust Co. now owns 5,730 shares of the company’s stock worth $223,000 after buying an additional 87 shares during the period. 90.13% of the stock is owned by institutional investors.
Several research analysts recently commented on CNK shares. Barrington Research cut their price objective on shares of Cinemark Holdings from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, August 7th. Wedbush raised their price objective on shares of Cinemark Holdings from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 4th. Credit Suisse Group downgraded shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $38.00 to $34.00 in a report on Thursday, June 22nd. Morgan Stanley cut their price objective on shares of Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating for the company in a report on Thursday, July 6th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Cinemark Holdings in a report on Monday, September 18th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.80.
In other news, CEO Mark Zoradi purchased 5,000 shares of the stock in a transaction dated Friday, September 8th. The stock was acquired at an average cost of $32.19 per share, for a total transaction of $160,950.00. Following the acquisition, the chief executive officer now owns 172,456 shares of the company’s stock, valued at $5,551,358.64. The acquisition was disclosed in a filing with the SEC, which is available at this link. 9.20% of the stock is currently owned by insiders.
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Cinemark Holdings Inc (NYSE:CNK) opened at 36.49 on Friday. Cinemark Holdings Inc has a one year low of $32.03 and a one year high of $44.84. The company has a market capitalization of $4.23 billion, a P/E ratio of 15.59 and a beta of 1.06. The firm has a 50-day moving average of $35.22 and a 200 day moving average of $39.67.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The business had revenue of $751.20 million during the quarter, compared to the consensus estimate of $751.72 million. During the same period in the previous year, the business earned $0.46 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts forecast that Cinemark Holdings Inc will post $2.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Thursday, August 31st were issued a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. Cinemark Holdings’s dividend payout ratio (DPR) is 49.57%.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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