Quantbot Technologies LP Has $1.82 Million Position in Cinemark Holdings Inc $CNK

Quantbot Technologies LP cut its holdings in Cinemark Holdings Inc (NYSE:CNK) by 48.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,391 shares of the company’s stock after selling 56,121 shares during the quarter. Quantbot Technologies LP’s holdings in Cinemark were worth $1,823,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Elevation Point Wealth Partners LLC acquired a new stake in shares of Cinemark in the second quarter valued at approximately $47,000. Russell Investments Group Ltd. lifted its holdings in Cinemark by 242.9% during the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company’s stock worth $88,000 after buying an additional 2,502 shares in the last quarter. GAMMA Investing LLC boosted its position in Cinemark by 66.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,474 shares of the company’s stock valued at $105,000 after buying an additional 1,384 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Cinemark in the 2nd quarter valued at $170,000. Finally, Praxis Investment Management Inc. bought a new stake in shares of Cinemark during the second quarter worth $200,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley dropped their price objective on Cinemark from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 1st. Wall Street Zen upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Roth Capital reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cinemark from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $35.30.

Cinemark Stock Down 7.9%

Shares of Cinemark stock opened at $21.98 on Friday. The company has a market capitalization of $2.58 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. The business has a 50-day moving average of $27.35 and a two-hundred day moving average of $28.41. Cinemark Holdings Inc has a 1 year low of $21.61 and a 1 year high of $35.33.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The business had revenue of $857.50 million for the quarter, compared to the consensus estimate of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.Cinemark’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 earnings per share. As a group, equities analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, November 28th. This is a positive change from Cinemark’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.6%. Cinemark’s dividend payout ratio (DPR) is 34.62%.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.