MYDA Advisors LLC Purchases 215,000 Shares of Cinemark Holdings Inc $CNK

MYDA Advisors LLC lifted its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 215.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 315,000 shares of the company’s stock after purchasing an additional 215,000 shares during the period. Cinemark comprises 1.4% of MYDA Advisors LLC’s investment portfolio, making the stock its 15th largest holding. MYDA Advisors LLC’s holdings in Cinemark were worth $7,321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 507 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Cinemark by 20.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after purchasing an additional 506 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Cinemark during the fourth quarter worth about $83,000. GAMMA Investing LLC grew its holdings in shares of Cinemark by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Cinemark in the fourth quarter worth approximately $102,000.

Cinemark Price Performance

Cinemark stock opened at $33.84 on Monday. The stock’s 50 day moving average is $29.00 and its 200 day moving average is $26.51. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. The firm has a market cap of $3.95 billion, a P/E ratio of 29.94 and a beta of 1.00. Cinemark Holdings Inc has a one year low of $21.60 and a one year high of $34.40.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business had revenue of $643.10 million during the quarter, compared to analyst estimates of $632.74 million. During the same period last year, the firm posted ($0.32) earnings per share. Cinemark’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, research analysts expect that Cinemark Holdings Inc will post 2.16 EPS for the current year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.36 annualized dividend and a yield of 1.1%. Cinemark’s payout ratio is 31.86%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Zacks Research lowered Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company lifted their price objective on Cinemark from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $22.00 price objective on shares of Cinemark in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cinemark in a research note on Friday, March 27th. Finally, Benchmark reaffirmed a “buy” rating on shares of Cinemark in a research note on Thursday, February 19th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.31.

About Cinemark

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.