Engineers Gate Manager LP Makes New $3.67 Million Investment in Cinemark Holdings Inc $CNK

Engineers Gate Manager LP purchased a new position in shares of Cinemark Holdings Inc (NYSE:CNK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 115,680 shares of the company’s stock, valued at approximately $3,671,000.

Several other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cinemark in the 2nd quarter worth about $22,657,000. BlackRock Inc. purchased a new stake in Cinemark during the second quarter valued at about $530,855,000. EP Wealth Advisors LLC bought a new position in Cinemark during the second quarter worth about $449,000. The Manufacturers Life Insurance Company bought a new position in Cinemark during the second quarter worth about $1,659,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Cinemark by 378.4% in the second quarter. Assenagon Asset Management S.A. now owns 117,150 shares of the company’s stock worth $3,717,000 after purchasing an additional 92,661 shares in the last quarter.

Cinemark Stock Down 0.2%

Shares of NYSE:CNK opened at $35.09 on Friday. Cinemark Holdings Inc has a 52-week low of $21.60 and a 52-week high of $38.98. The firm has a fifty day moving average of $34.63 and a 200 day moving average of $31.02. The firm has a market capitalization of $4.07 billion, a PE ratio of 20.76 and a beta of 0.98. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, research analysts anticipate that Cinemark Holdings Inc will post 2.36 EPS for the current fiscal year.

Cinemark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 26th. Cinemark’s dividend payout ratio (DPR) is currently 21.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CNK shares. Barrington Research set a $42.00 target price on Cinemark in a research report on Thursday, July 30th. Moffett Nathanson restated a “buy” rating and issued a $40.00 target price on shares of Cinemark in a research note on Thursday, July 30th. Zacks Research lowered Cinemark from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. The Goldman Sachs Group upgraded Cinemark from a “sell” rating to a “neutral” rating and upped their price target for the company from $23.00 to $30.00 in a research report on Wednesday, July 8th. Finally, Morgan Stanley set a $40.00 price target on shares of Cinemark in a report on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

Cinemark Profile

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.

In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.