Deutsche Bank AG Buys Shares of 113,719 Cinemark Holdings Inc $CNK

Deutsche Bank AG purchased a new position in Cinemark Holdings Inc (NYSE:CNK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 113,719 shares of the company’s stock, valued at approximately $3,608,000.

A number of other hedge funds have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Cinemark in the 4th quarter valued at about $83,000. Kestra Advisory Services LLC purchased a new position in shares of Cinemark in the 4th quarter worth approximately $102,000. KBC Group NV raised its stake in shares of Cinemark by 56.9% during the 1st quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after acquiring an additional 1,572 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Cinemark by 10.2% during the second quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock valued at $158,000 after acquiring an additional 462 shares during the last quarter.

Cinemark Price Performance

NYSE CNK opened at $37.06 on Thursday. 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 stock’s fifty day moving average price is $33.99 and its 200 day moving average price is $30.23. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $38.98. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 21.93 and a beta of 1.00.

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

Cinemark Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have issued reports on CNK shares. Morgan Stanley set a $40.00 price target on shares of Cinemark in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research report on Friday, July 31st. Moffett Nathanson restated a “buy” rating and set a $40.00 target price on shares of Cinemark in a research note on Thursday, July 30th. Wedbush increased their price target on Cinemark from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. downgraded Cinemark from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $40.00 to $39.00 in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Cinemark has an average rating of “Moderate Buy” and a consensus price target of $37.93.

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.