Gabelli Funds LLC Purchases 49,826 Shares of Cinemark Holdings Inc $CNK

Gabelli Funds LLC boosted its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 96.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,376 shares of the company’s stock after purchasing an additional 49,826 shares during the period. Gabelli Funds LLC owned about 0.09% of Cinemark worth $2,356,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CNK. EverSource Wealth Advisors LLC grew its holdings in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 507 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Cinemark by 20.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after acquiring an additional 506 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Cinemark by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock valued at $93,000 after acquiring an additional 1,372 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Cinemark in the 4th quarter valued at about $121,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Cinemark by 48.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock valued at $158,000 after acquiring an additional 1,696 shares in the last quarter.

Cinemark Stock Down 0.7%

NYSE CNK opened at $26.40 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. Cinemark Holdings Inc has a 1-year low of $21.60 and a 1-year high of $34.01. The company has a 50 day moving average of $28.08 and a 200-day moving average of $26.41. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 23.36 and a beta of 1.03.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business had revenue of $643.10 million during the quarter, compared to analyst estimates of $632.74 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. On average, equities research analysts expect that Cinemark Holdings Inc will post 2.11 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, May 28th. Cinemark’s payout ratio is presently 31.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CNK shares. B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a research note on Friday, April 17th. Roth Mkm reiterated a “buy” rating and issued a $37.00 target price on shares of Cinemark in a research note on Thursday, April 23rd. Morgan Stanley raised their target price on shares of Cinemark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Cinemark from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.31.

Cinemark Company 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.