Marathon Asset Management LP Invests $8.41 Million in Cinemark Holdings Inc $CNK

Marathon Asset Management LP bought a new stake in Cinemark Holdings Inc (NYSE:CNK) during the third quarter, Holdings Channel reports. The institutional investor bought 300,000 shares of the company’s stock, valued at approximately $8,406,000. Cinemark accounts for approximately 11.2% of Marathon Asset Management LP’s investment portfolio, making the stock its 3rd largest holding.

Several other hedge funds also recently modified their holdings of CNK. EverSource Wealth Advisors LLC grew its holdings in Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after buying an additional 507 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Cinemark in the 2nd quarter valued at $47,000. Financial Consulate Inc. bought a new position in Cinemark during the 3rd quarter valued at $50,000. Meeder Asset Management Inc. purchased a new position in Cinemark during the 3rd quarter worth $63,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Cinemark by 20.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after acquiring an additional 506 shares during the last quarter.

Cinemark Stock Up 1.4%

Shares of NYSE:CNK opened at $26.76 on Wednesday. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $34.01. The company has a market capitalization of $3.09 billion, a PE ratio of 30.75 and a beta of 1.08. The business has a fifty day moving average price of $25.33 and a two-hundred day moving average price of $26.04. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67.

Cinemark (NYSE:CNK) last released its earnings results 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%.The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Tuesday, March 3rd. Cinemark’s dividend payout ratio (DPR) is 41.38%.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of Cinemark stock in a transaction dated Wednesday, February 4th. The shares were 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 approximately $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 29th. Wells Fargo & Company decreased their price objective on shares of Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Finally, Benchmark reiterated a “buy” rating on shares of Cinemark in a research note on Thursday, February 19th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.08.

Cinemark 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.