EP Wealth Advisors LLC Invests $449,000 in Cinemark Holdings Inc $CNK

EP Wealth Advisors LLC bought a new stake in Cinemark Holdings Inc (NYSE:CNK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,160 shares of the company’s stock, valued at approximately $449,000.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the period. Leonteq Securities AG acquired a new position in Cinemark during the fourth quarter worth $83,000. Kestra Advisory Services LLC bought a new position in shares of Cinemark during the fourth quarter valued at $102,000. KBC Group NV lifted its holdings in shares of Cinemark by 56.9% during the first quarter. KBC Group NV now owns 4,334 shares of the company’s stock valued at $124,000 after acquiring an additional 1,572 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Cinemark by 10.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock valued at $158,000 after purchasing an additional 462 shares in the last quarter.

Cinemark Price Performance

CNK opened at $37.37 on Wednesday. Cinemark Holdings Inc has a one year low of $21.60 and a one year high of $38.98. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The company’s 50 day simple moving average is $33.91 and its 200-day simple moving average is $30.15. The stock has a market capitalization of $4.33 billion, a P/E ratio of 22.11 and a beta of 1.00.

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

Cinemark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 26th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Cinemark’s payout ratio is presently 21.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Guggenheim set a $37.00 target price on shares of Cinemark in a research note on Thursday, July 2nd. JPMorgan Chase & Co. cut Cinemark from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $39.00 in a report on Friday, August 14th. Wall Street Zen upgraded Cinemark from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Moffett Nathanson reissued a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Thursday, July 30th. Finally, Morgan Stanley set a $40.00 target price on Cinemark in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

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.