Front Barnett Associates LLC Buys 6,245 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Front Barnett Associates LLC increased its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,599 shares of the company’s stock after purchasing an additional 6,245 shares during the quarter. Cinemark comprises about 2.2% of Front Barnett Associates LLC’s portfolio, making the stock its 15th biggest position. Front Barnett Associates LLC owned 0.30% of Cinemark worth $13,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Cinemark by 0.9% in the second quarter. Vanguard Group Inc. now owns 10,085,577 shares of the company’s stock valued at $364,090,000 after buying an additional 87,273 shares during the period. Victory Capital Management Inc. lifted its holdings in Cinemark by 9.3% in the second quarter. Victory Capital Management Inc. now owns 5,683,649 shares of the company’s stock valued at $205,180,000 after buying an additional 483,773 shares during the period. JPMorgan Chase & Co. lifted its holdings in Cinemark by 3.2% in the second quarter. JPMorgan Chase & Co. now owns 3,709,992 shares of the company’s stock valued at $130,703,000 after buying an additional 114,780 shares during the period. Eagle Asset Management Inc. lifted its holdings in Cinemark by 6.6% in the second quarter. Eagle Asset Management Inc. now owns 3,395,717 shares of the company’s stock valued at $122,585,000 after buying an additional 210,708 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Cinemark by 23.0% in the second quarter. Renaissance Technologies LLC now owns 2,932,900 shares of the company’s stock valued at $105,878,000 after buying an additional 548,900 shares during the period. 99.60% of the stock is currently owned by institutional investors and hedge funds.

CNK traded up $0.33 during mid-day trading on Friday, hitting $36.31. The stock had a trading volume of 967,939 shares, compared to its average volume of 1,108,788. The stock’s fifty day simple moving average is $37.12 and its 200-day simple moving average is $38.27. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.95 and a quick ratio of 0.92. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. Cinemark Holdings, Inc. has a 1-year low of $34.49 and a 1-year high of $43.51.

Cinemark (NYSE:CNK) last posted its earnings results on Tuesday, November 5th. The company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.23). The firm had revenue of $821.82 million during the quarter, compared to analyst estimates of $807.69 million. Cinemark had a return on equity of 14.25% and a net margin of 5.60%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. As a group, research analysts expect that Cinemark Holdings, Inc. will post 2.27 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the stock. TheStreet lowered shares of Cinemark from a “b-” rating to a “c+” rating in a report on Wednesday. ValuEngine upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Cinemark from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Goldman Sachs Group set a $43.00 price objective on shares of Cinemark and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, MKM Partners cut their price objective on shares of Cinemark from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $43.60.

Cinemark 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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