Assenagon Asset Management S.A. Decreases Stock Position in Cinemark Holdings Inc $CNK

Assenagon Asset Management S.A. lessened its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 97.9% in the 4th quarter, Holdings Channel reports. The firm owned 19,849 shares of the company’s stock after selling 942,966 shares during the period. Assenagon Asset Management S.A.’s holdings in Cinemark were worth $461,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cinemark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock valued at $1,635,000 after buying an additional 2,872 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Cinemark during the 1st quarter worth approximately $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cinemark by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock worth $8,593,000 after acquiring an additional 25,490 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Cinemark during the 1st quarter valued at approximately $372,000. Finally, Franklin Resources Inc. boosted its position in shares of Cinemark by 4.8% during the 2nd quarter. Franklin Resources Inc. now owns 85,911 shares of the company’s stock valued at $2,593,000 after acquiring an additional 3,910 shares during the last quarter.

Insider Activity

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total transaction of $206,941.20. Following the completion of the transaction, the executive vice president owned 159,416 shares in the company, valued at $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by company insiders.

Cinemark Stock Up 0.3%

NYSE CNK opened at $28.60 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.74. Cinemark Holdings Inc has a 52 week low of $21.60 and a 52 week high of $34.01. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 32.87 and a beta of 1.09. The company has a fifty day moving average of $26.21 and a two-hundred day moving average of $26.12.

Cinemark (NYSE:CNK) last released its earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The firm had revenue of $776.30 million during the quarter, compared to the consensus estimate of $778.41 million. During the same quarter last year, the business posted $0.33 EPS. Cinemark’s revenue was down 4.7% compared to the same quarter last year. On average, analysts predict that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.36 annualized dividend and a yield of 1.3%. Cinemark’s dividend payout ratio (DPR) is presently 41.38%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CNK shares. B. Riley Financial restated a “neutral” rating on shares of Cinemark in a research report on Thursday, February 19th. Benchmark reiterated a “buy” rating on shares of Cinemark in a research report on Thursday, February 19th. UBS Group raised shares of Cinemark to a “buy” rating in a research note on Tuesday, January 20th. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Barrington Research restated an “outperform” rating and set a $32.00 target price on shares of Cinemark in a research report on Thursday, February 19th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.08.

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.