Jupiter Topco LLC Invests $10.11 Million in Cinemark Holdings Inc $CNK

Jupiter Topco LLC acquired a new position in Cinemark Holdings Inc (NYSE:CNK) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 318,593 shares of the company’s stock, valued at approximately $10,110,000.

Several other large investors have also made changes to their positions in CNK. BlackRock Inc. bought a new stake in Cinemark during the second quarter worth approximately $530,855,000. Lavaca Capital LLC bought a new stake in shares of Cinemark in the 4th quarter worth approximately $133,045,000. Orbis Allan Gray Ltd boosted its stake in Cinemark by 31.0% during the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock worth $349,946,000 after buying an additional 3,563,810 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Cinemark during the 4th quarter valued at about $55,296,000. Finally, Victory Capital Management Inc. grew its stake in shares of Cinemark by 12,759.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,026,245 shares of the company’s stock valued at $47,090,000 after purchasing an additional 2,010,488 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Roth Capital set a $40.00 target price on shares of Cinemark in a research report on Thursday, July 30th. Morgan Stanley set a $40.00 price objective on Cinemark in a report on Wednesday, July 29th. Wedbush boosted their price target on Cinemark from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Zacks Research upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen cut shares of Cinemark from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.93.

Cinemark Stock Up 0.1%

Shares of NYSE:CNK opened at $36.04 on Monday. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84. The business’s 50 day simple moving average is $34.10 and its two-hundred day simple moving average is $30.38. The firm has a market cap of $4.18 billion, a P/E ratio of 21.33 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.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. As a group, research analysts forecast that Cinemark Holdings Inc will post 2.36 EPS for the current fiscal year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Cinemark’s payout ratio is currently 21.30%.

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.