Mitchell Capital Management Co. Has $2.34 Million Stock Position in Cinemark Holdings Inc $CNK

Mitchell Capital Management Co. lowered its holdings in shares of Cinemark Holdings Inc (NYSE:CNK) by 15.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,293 shares of the company’s stock after selling 14,022 shares during the period. Mitchell Capital Management Co.’s holdings in Cinemark were worth $2,336,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. CWM LLC raised its holdings in shares of Cinemark by 29.2% during the 2nd quarter. CWM LLC now owns 8,458 shares of the company’s stock worth $255,000 after buying an additional 1,910 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Cinemark by 11.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 34,200 shares of the company’s stock worth $1,032,000 after buying an additional 3,500 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Cinemark by 3.2% during the 2nd quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock worth $510,000 after buying an additional 521 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Cinemark by 1.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 60,062 shares of the company’s stock worth $1,812,000 after buying an additional 892 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Cinemark during the 2nd quarter worth $247,000.

Insider Activity at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the sale, the executive vice president owned 203,768 shares in the company, valued at approximately $5,128,840.56. The trade was a 3.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Cinemark Trading Down 3.2%

NYSE CNK opened at $25.75 on Monday. The business’s 50-day moving average price is $26.72 and its two-hundred day moving average price is $28.74. Cinemark Holdings Inc has a 12 month low of $23.12 and a 12 month high of $36.28. The firm has a market capitalization of $2.96 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.85 and a beta of 1.75. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.15). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The company had revenue of $940.50 million during the quarter, compared to the consensus estimate of $942.14 million. During the same quarter last year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 28.1% on a year-over-year basis. On average, analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, August 27th. Cinemark’s payout ratio is 17.49%.

Analyst Upgrades and Downgrades

CNK has been the subject of a number of recent research reports. Wedbush raised Cinemark from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $32.00 to $37.00 in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Cinemark in a report on Thursday, July 10th. They issued a “buy” rating and a $36.00 target price for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cinemark in a report on Wednesday, October 8th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $33.00 target price (down previously from $36.00) on shares of Cinemark in a report on Monday, August 4th. Finally, Wall Street Zen raised Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus 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.