Royal Bank of Canada Grows Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Royal Bank of Canada grew its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 153,860 shares of the company’s stock after buying an additional 10,770 shares during the quarter. Royal Bank of Canada owned approximately 0.13% of Cinemark worth $5,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Cinemark by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 10,085,577 shares of the company’s stock valued at $364,090,000 after purchasing an additional 87,273 shares during the period. FMR LLC lifted its stake in shares of Cinemark by 5.7% in the 1st quarter. FMR LLC now owns 9,183,881 shares of the company’s stock valued at $367,263,000 after purchasing an additional 494,773 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Cinemark by 9.3% in the 2nd quarter. Victory Capital Management Inc. now owns 5,683,649 shares of the company’s stock valued at $205,180,000 after purchasing an additional 483,773 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Cinemark by 3.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,709,992 shares of the company’s stock valued at $130,703,000 after purchasing an additional 114,780 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in shares of Cinemark by 6.6% in the 2nd quarter. Eagle Asset Management Inc. now owns 3,395,717 shares of the company’s stock valued at $122,585,000 after purchasing an additional 210,708 shares during the period. Institutional investors and hedge funds own 99.84% of the company’s stock.

A number of research firms have recently commented on CNK. Credit Suisse Group began coverage on Cinemark in a research note on Friday, July 19th. They issued an “outperform” rating and a $43.00 target price for the company. Wedbush restated a “buy” rating and issued a $49.00 target price on shares of Cinemark in a research note on Friday, August 2nd. Zacks Investment Research cut Cinemark from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Morgan Stanley lowered their target price on Cinemark from $41.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 23rd. Finally, ValuEngine upgraded Cinemark from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.00.

In other Cinemark news, CFO Sean Gamble sold 5,669 shares of Cinemark stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $41.50, for a total value of $235,263.50. Following the completion of the sale, the chief financial officer now owns 126,025 shares of the company’s stock, valued at approximately $5,230,037.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.00% of the stock is currently owned by insiders.

Shares of NYSE:CNK opened at $36.71 on Friday. The stock has a fifty day simple moving average of $38.08 and a two-hundred day simple moving average of $38.84. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.04 and a beta of 0.69. Cinemark Holdings, Inc. has a 12-month low of $34.49 and a 12-month high of $43.51. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 2.08.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.06. The business had revenue of $957.76 million during the quarter, compared to analysts’ expectations of $906.57 million. Cinemark had a return on equity of 13.75% and a net margin of 6.31%. As a group, equities research analysts predict that Cinemark Holdings, Inc. will post 2.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Tuesday, September 3rd. Cinemark’s payout ratio is 74.32%.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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