Gabelli Funds LLC Buys Shares of 51,550 Cinemark Holdings Inc $CNK

Gabelli Funds LLC purchased a new position in shares of Cinemark Holdings Inc (NYSE:CNK) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 51,550 shares of the company’s stock, valued at approximately $1,444,000.

Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cinemark by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock valued at $1,635,000 after acquiring an additional 2,872 shares in the last quarter. Woodline Partners LP bought a new stake in Cinemark during the first quarter worth approximately $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cinemark by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after purchasing an additional 25,490 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Cinemark in the first quarter valued at approximately $372,000. Finally, Resona Asset Management Co. Ltd. lifted its stake in shares of Cinemark by 7.2% in the second quarter. Resona Asset Management Co. Ltd. now owns 12,056 shares of the company’s stock worth $364,000 after buying an additional 812 shares during the last quarter.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 7,944 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total value of $206,941.20. Following the sale, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. The trade was a 4.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

CNK has been the subject of several recent analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $36.00 price objective on shares of Cinemark in a report on Thursday, February 19th. Zacks Research raised shares of Cinemark from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. B. Riley Financial reaffirmed a “neutral” rating on shares of Cinemark in a research report on Thursday, February 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research note on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Price Performance

Shares of Cinemark stock opened at $26.01 on Thursday. The firm has a fifty day moving average price of $25.09 and a two-hundred day moving average price of $26.03. Cinemark Holdings Inc has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67. The company has a market cap of $3.01 billion, a PE ratio of 29.90 and a beta of 1.08.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $776.30 million for the quarter, compared to the consensus estimate of $778.41 million. Cinemark had a return on equity of 34.11% and a net margin of 4.44%.Cinemark’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. Cinemark’s dividend payout ratio is presently 41.38%.

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.