Cinemark Holdings, Inc. (CNK) Position Lifted by Front Barnett Associates LLC

Front Barnett Associates LLC lifted its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,719 shares of the company’s stock after buying an additional 4,405 shares during the period. Cinemark makes up 2.3% of Front Barnett Associates LLC’s investment portfolio, making the stock its 13th largest holding. Front Barnett Associates LLC owned about 0.33% of Cinemark worth $15,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Cinemark by 2.3% in the 2nd quarter. BlackRock Inc. now owns 11,535,809 shares of the company’s stock valued at $404,676,000 after buying an additional 254,393 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Cinemark by 7.2% in the 2nd quarter. Victory Capital Management Inc. now owns 6,535,343 shares of the company’s stock valued at $229,260,000 after buying an additional 438,400 shares during the last quarter. Eagle Asset Management Inc. grew its position in Cinemark by 5.9% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,998,755 shares of the company’s stock worth $105,196,000 after purchasing an additional 168,245 shares during the last quarter. Raymond James & Associates grew its position in Cinemark by 9.8% during the 2nd quarter. Raymond James & Associates now owns 2,267,431 shares of the company’s stock worth $79,542,000 after purchasing an additional 202,277 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in Cinemark by 28.3% during the 2nd quarter. Macquarie Group Ltd. now owns 1,701,239 shares of the company’s stock worth $59,679,000 after purchasing an additional 374,814 shares during the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on CNK. Morgan Stanley raised their price objective on shares of Cinemark from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 18th. B. Riley lowered their price objective on shares of Cinemark from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, November 5th. Royal Bank of Canada raised their price objective on shares of Cinemark from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, November 5th. Imperial Capital raised their price objective on shares of Cinemark from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 2nd. Finally, MKM Partners raised their price objective on shares of Cinemark to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Cinemark currently has an average rating of “Buy” and a consensus price target of $43.70.

Shares of Cinemark stock opened at $40.83 on Friday. Cinemark Holdings, Inc. has a 1 year low of $32.60 and a 1 year high of $44.00. The company has a current ratio of 1.24, a quick ratio of 1.39 and a debt-to-equity ratio of 1.36. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.35 and a beta of 0.80.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.09. Cinemark had a net margin of 9.12% and a return on equity of 19.92%. The company had revenue of $754.20 million for the quarter, compared to the consensus estimate of $730.27 million. During the same period last year, the firm posted $0.33 EPS. Cinemark’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts forecast that Cinemark Holdings, Inc. will post 2.05 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Cinemark Holdings, Inc. (CNK) Position Lifted by Front Barnett Associates LLC” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/11/10/cinemark-holdings-inc-cnk-position-lifted-by-front-barnett-associates-llc.html.

Cinemark Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of June 30, 2018, the company operated 539 theatres and 5,998 screens.

Featured Article: Buyback For Investors Defined

Want to see what other hedge funds are holding CNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cinemark Holdings, Inc. (NYSE:CNK).

Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

Receive News & Ratings for Cinemark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cinemark and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply