QRG Capital Management Inc. Grows Position in Cinemark Holdings Inc $CNK

QRG Capital Management Inc. increased its holdings in Cinemark Holdings Inc (NYSE:CNK) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,894 shares of the company’s stock after acquiring an additional 521 shares during the quarter. QRG Capital Management Inc.’s holdings in Cinemark were worth $510,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CNK. Russell Investments Group Ltd. lifted its position in shares of Cinemark by 242.9% during the first quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company’s stock valued at $88,000 after buying an additional 2,502 shares during the last quarter. GAMMA Investing LLC increased its holdings in Cinemark by 66.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,474 shares of the company’s stock worth $105,000 after buying an additional 1,384 shares during the period. CWM LLC grew its stake in shares of Cinemark by 20.6% during the 1st quarter. CWM LLC now owns 6,548 shares of the company’s stock worth $163,000 after purchasing an additional 1,118 shares during the period. Twin Tree Management LP grew its stake in shares of Cinemark by 2,790.7% during the 1st quarter. Twin Tree Management LP now owns 8,354 shares of the company’s stock worth $208,000 after purchasing an additional 8,065 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in Cinemark in the 2nd quarter valued at $247,000.

Cinemark Trading Down 3.2%

NYSE:CNK opened at $25.75 on Friday. Cinemark Holdings Inc has a 1 year low of $23.12 and a 1 year high of $36.28. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.90 and a beta of 1.75. The stock has a fifty day moving average price of $26.72 and a two-hundred day moving average price of $28.70. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.15). The firm had revenue of $940.50 million during the quarter, compared to analysts’ expectations of $942.14 million. Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. As a group, sell-side analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 27th. Cinemark’s payout ratio is currently 17.49%.

Insider Buying and Selling at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president directly owned 203,768 shares in the company, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CNK has been the topic of several recent research reports. Roth Capital lowered their target price on shares of Cinemark from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft started coverage on Cinemark in a research report on Thursday, July 10th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Barrington Research restated an “outperform” rating and set a $36.00 target price on shares of Cinemark in a research note on Tuesday, September 23rd. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.40.

Cinemark Company Profile

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.