Cinemark Holdings Inc. (CNK) Shares Sold by Sarasin & Partners LLP
Sarasin & Partners LLP reduced its stake in shares of Cinemark Holdings Inc. (NYSE:CNK) by 3.8% during the third quarter, Holdings Channel reports. The firm owned 1,444,054 shares of the company’s stock after selling 57,465 shares during the period. Sarasin & Partners LLP’s holdings in Cinemark Holdings were worth $55,278,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNK. Fox Run Management L.L.C. bought a new position in Cinemark Holdings during the third quarter valued at approximately $241,000. Raymond James Trust N.A. raised its position in Cinemark Holdings by 1.5% in the third quarter. Raymond James Trust N.A. now owns 18,031 shares of the company’s stock valued at $691,000 after buying an additional 259 shares during the period. Oregon Public Employees Retirement Fund raised its position in Cinemark Holdings by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 36,160 shares of the company’s stock valued at $1,384,000 after buying an additional 729 shares during the period. Park National Corp OH raised its position in Cinemark Holdings by 37.8% in the third quarter. Park National Corp OH now owns 7,681 shares of the company’s stock valued at $294,000 after buying an additional 2,106 shares during the period. Finally, Macquarie Group Ltd. raised its position in Cinemark Holdings by 31.7% in the second quarter. Macquarie Group Ltd. now owns 1,174,674 shares of the company’s stock valued at $42,829,000 after buying an additional 282,602 shares during the period. 88.33% of the stock is currently owned by institutional investors.
Cinemark Holdings Inc. (NYSE:CNK) traded down 0.74% during midday trading on Wednesday, hitting $40.43. The stock had a trading volume of 50,494 shares. The company has a market cap of $4.67 billion, a PE ratio of 19.92 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 stock’s 50 day moving average price is $40.38 and its 200-day moving average price is $37.81.
Cinemark Holdings (NYSE:CNK) last posted its earnings results 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. The business earned $768.60 million during the quarter, compared to the consensus estimate of $776.40 million. Cinemark Holdings had a net margin of 8.06% and a return on equity of 20.75%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. Equities research analysts predict that Cinemark Holdings Inc. will post $1.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a $0.27 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.08 dividend on an annualized basis and a yield of 2.63%. Cinemark Holdings’s payout ratio is currently 53.47%.
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Several research firms have commented on CNK. RBC Capital Markets reissued an “outperform” rating and issued a $43.00 price objective (up from $42.00) on shares of Cinemark Holdings in a research report on Monday, November 14th. Royal Bank Of Canada raised their target price on Cinemark Holdings from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, November 14th. B. Riley restated a “buy” rating and set a $47.00 target price on shares of Cinemark Holdings in a research note on Monday, November 14th. Benchmark Co. restated a “hold” rating and set a $35.94 target price on shares of Cinemark Holdings in a research note on Wednesday, November 9th. Finally, Wedbush restated a “neutral” rating and set a $40.00 target price on shares of Cinemark Holdings in a research note on Tuesday, November 8th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price 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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