22,135 Shares in Cinemark Holdings Inc $CNK Bought by Ieq Capital LLC

Ieq Capital LLC acquired a new position in Cinemark Holdings Inc (NYSE:CNK) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 22,135 shares of the company’s stock, valued at approximately $702,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CNK. BlackRock Inc. purchased a new stake in shares of Cinemark in the 2nd quarter worth about $530,855,000. Orbis Allan Gray Ltd lifted its position in Cinemark by 31.0% during the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after acquiring an additional 3,563,810 shares during the period. Wellington Management Group LLP boosted its stake in Cinemark by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock worth $221,638,000 after acquiring an additional 742,307 shares in the last quarter. Lavaca Capital LLC purchased a new stake in Cinemark in the fourth quarter worth about $133,045,000. Finally, State Street Corp grew its holdings in Cinemark by 1.5% in the fourth quarter. State Street Corp now owns 3,950,606 shares of the company’s stock worth $91,812,000 after purchasing an additional 60,176 shares during the period.

Cinemark Stock Down 1.1%

Shares of Cinemark stock opened at $36.70 on Friday. The company has a 50-day simple moving average of $34.05 and a two-hundred day simple moving average of $30.31. The stock has a market capitalization of $4.25 billion, a PE ratio of 21.71 and a beta of 1.00. Cinemark Holdings Inc has a 52-week low of $21.60 and a 52-week high of $38.98. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, analysts anticipate that Cinemark Holdings Inc will post 2.36 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $0.36 annualized dividend and a yield of 1.0%. Cinemark’s dividend payout ratio is 21.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. B. Riley Financial lifted their target price on shares of Cinemark from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Guggenheim set a $37.00 price target on Cinemark in a research note on Thursday, July 2nd. Wall Street Zen raised Cinemark from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Wedbush lifted their price objective on Cinemark from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Roth Capital set a $40.00 target price on Cinemark in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average price target of $37.93.

About Cinemark

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.