Renaissance Technologies LLC Has $113.93 Million Stock Holdings in Cinemark Holdings Inc $CNK

Renaissance Technologies LLC decreased its position in Cinemark Holdings Inc (NYSE:CNK) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,994,785 shares of the company’s stock after selling 122,600 shares during the period. Renaissance Technologies LLC owned 3.42% of Cinemark worth $113,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new position in Cinemark during the 4th quarter valued at about $1,661,000. UBS Group AG grew its position in shares of Cinemark by 49.8% during the 4th quarter. UBS Group AG now owns 1,100,402 shares of the company’s stock worth $25,573,000 after buying an additional 365,630 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of Cinemark by 80.1% during the first quarter. GHP Investment Advisors Inc. now owns 41,764 shares of the company’s stock worth $1,191,000 after buying an additional 18,579 shares during the last quarter. Saber Capital Managment LLC bought a new stake in shares of Cinemark during the fourth quarter worth approximately $6,300,000. Finally, MYDA Advisors LLC lifted its holdings in Cinemark by 215.0% in the fourth quarter. MYDA Advisors LLC now owns 315,000 shares of the company’s stock valued at $7,321,000 after buying an additional 215,000 shares during the period.

Analysts Set New Price Targets

A number of brokerages have issued reports on CNK. B. Riley Financial reduced their price objective on shares of Cinemark from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Wells Fargo & Company reiterated an “equal weight” rating and set a $31.00 target price (down from $36.00) on shares of Cinemark in a research report on Thursday, July 16th. Zacks Research downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Barrington Research restated an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a research report on Monday, May 4th. Finally, Morgan Stanley lifted their price objective on Cinemark from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 9th. Seven 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 has a consensus rating of “Moderate Buy” and an average target price of $34.58.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $32.67 on Friday. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 28.91 and a beta of 0.98. The firm’s 50 day simple moving average is $30.71 and its 200 day simple moving average is $28.07. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. Cinemark Holdings Inc has a fifty-two week low of $21.60 and a fifty-two week high of $34.73.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) EPS. As a group, sell-side analysts forecast that Cinemark Holdings Inc will post 2.14 earnings per share for the current year.

Cinemark Dividend Announcement

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

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.