ARP Americas LP Has $247,000 Position in Cinemark Holdings, Inc. (CNK)
ARP Americas LP lowered its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 79.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,143 shares of the company’s stock after selling 23,657 shares during the quarter. ARP Americas LP’s holdings in Cinemark were worth $247,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bruderman Asset Management LLC increased its stake in Cinemark by 76.6% in the second quarter. Bruderman Asset Management LLC now owns 4,000 shares of the company’s stock valued at $140,000 after acquiring an additional 1,735 shares during the period. BB&T Corp bought a new stake in Cinemark in the third quarter valued at about $225,000. Itau Unibanco Holding S.A. increased its stake in Cinemark by 413.6% in the second quarter. Itau Unibanco Holding S.A. now owns 6,898 shares of the company’s stock valued at $242,000 after acquiring an additional 5,555 shares during the period. We Are One Seven LLC bought a new stake in Cinemark in the third quarter valued at about $290,000. Finally, GSA Capital Partners LLP bought a new stake in Cinemark in the second quarter valued at about $266,000. 99.18% of the stock is currently owned by institutional investors and hedge funds.
CNK has been the topic of a number of analyst reports. Wedbush reissued a “buy” rating and issued a $43.00 target price on shares of Cinemark in a research note on Tuesday, July 3rd. ValuEngine raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Imperial Capital initiated coverage on shares of Cinemark in a research note on Wednesday, July 11th. They issued an “outperform” rating and a $46.00 target price on the stock. Zacks Investment Research raised shares of Cinemark from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Wednesday, July 11th. Finally, Morgan Stanley lowered their target price on shares of Cinemark from $42.00 to $39.00 and set a “$34.56” rating on the stock in a research note on Monday, July 23rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Cinemark currently has an average rating of “Buy” and an average price target of $43.25.
Cinemark (NYSE:CNK) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). The firm had revenue of $889.05 million during the quarter, compared to analyst estimates of $897.68 million. Cinemark had a net margin of 8.86% and a return on equity of 19.49%. Cinemark’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. Research analysts predict that Cinemark Holdings, Inc. will post 1.92 earnings per share for the current fiscal year.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of June 30, 2018, the company operated 539 theatres and 5,998 screens.
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