Polar Asset Management Partners Inc. Decreases Stake in Cinemark Holdings Inc $CNK

Polar Asset Management Partners Inc. lowered its stake in Cinemark Holdings Inc (NYSE:CNK) by 53.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 35,500 shares of the company’s stock after selling 41,383 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Cinemark were worth $995,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CNK. EverSource Wealth Advisors LLC increased its stake in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after buying an additional 507 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Cinemark during the 2nd quarter valued at $47,000. Financial Consulate Inc. bought a new stake in Cinemark in the 3rd quarter worth $50,000. Meeder Asset Management Inc. bought a new stake in Cinemark in the 3rd quarter worth $63,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Cinemark by 20.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after acquiring an additional 506 shares during the last quarter.

Insider Transactions at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total value of $206,941.20. Following the transaction, the executive vice president owned 159,416 shares in the company, valued at approximately $4,152,786.80. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CNK. Roth Mkm reissued a “buy” rating and issued a $36.00 target price on shares of Cinemark in a research note on Thursday, February 19th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $22.00 price target on shares of Cinemark in a research report on Thursday, February 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 price objective (down from $35.00) on shares of Cinemark in a report on Thursday, December 18th. Wells Fargo & Company cut their price objective on Cinemark from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Finally, UBS Group raised Cinemark to a “buy” rating in a research note on Tuesday, January 20th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Trading Up 0.1%

Shares of NYSE CNK opened at $26.41 on Friday. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $34.01. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a 50-day moving average of $25.56 and a 200 day moving average of $26.05. The stock has a market cap of $3.05 billion, a P/E ratio of 30.35 and a beta of 1.08.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $776.30 million during the quarter, compared to analysts’ expectations of $778.41 million. Cinemark had a return on equity of 34.11% and a net margin of 4.44%.Cinemark’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. As a group, sell-side analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cinemark’s dividend payout ratio is 41.38%.

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.