BTR Capital Management Inc. Sells 3,784 Shares of Cinemark Holdings Inc. (CNK)
BTR Capital Management Inc. decreased its stake in shares of Cinemark Holdings Inc. (NYSE:CNK) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,614 shares of the company’s stock after selling 3,784 shares during the period. Cinemark Holdings accounts for approximately 2.2% of BTR Capital Management Inc.’s holdings, making the stock its 14th largest position. BTR Capital Management Inc.’s holdings in Cinemark Holdings were worth $9,632,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of CNK. Advisor Group Inc. purchased a new stake in Cinemark Holdings during the second quarter worth $121,000. Bessemer Group Inc. increased its position in Cinemark Holdings by 99.9% in the second quarter. Bessemer Group Inc. now owns 3,346 shares of the company’s stock valued at $122,000 after buying an additional 1,672 shares in the last quarter. Cantab Capital Partners LLP bought a new position in Cinemark Holdings during the second quarter valued at approximately $161,000. Park National Corp OH bought a new position in Cinemark Holdings during the second quarter valued at approximately $203,000. Finally, Advance Capital I Inc. bought a new position in Cinemark Holdings during the second quarter valued at approximately $204,000. 88.33% of the stock is owned by institutional investors.
Shares of Cinemark Holdings Inc. (NYSE:CNK) traded down 1.37% during mid-day trading on Tuesday, hitting $41.04. The stock had a trading volume of 321,809 shares. The stock has a market cap of $4.74 billion, a P/E ratio of 20.22 and a beta of 1.01. Cinemark Holdings Inc. has a 52-week low of $26.56 and a 52-week high of $42.56. The company’s 50 day moving average is $40.38 and its 200-day moving average is $37.81.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Cinemark Holdings had a return on equity of 20.75% and a net margin of 8.06%. The firm earned $768.60 million during the quarter, compared to analysts’ expectations of $776.40 million. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cinemark Holdings Inc. will post $1.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, November 30th. Cinemark Holdings’s dividend payout ratio (DPR) is currently 53.47%.
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Several research firms have recently commented on CNK. Wunderlich lifted their price objective on Cinemark Holdings from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Royal Bank Of Canada lifted their price objective on Cinemark Holdings from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, November 14th. B. Riley upgraded Cinemark Holdings from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $41.75 to $47.00 in a report on Thursday, August 4th. Loop Capital began coverage on Cinemark Holdings in a report on Tuesday, August 23rd. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Cinemark Holdings in a report on Monday, November 14th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $41.62.
About Cinemark Holdings
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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