SG Americas Securities LLC Sells 666,129 Shares of Cinemark Holdings Inc $CNK

SG Americas Securities LLC decreased its holdings in shares of Cinemark Holdings Inc (NYSE:CNK) by 96.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,063 shares of the company’s stock after selling 666,129 shares during the quarter. SG Americas Securities LLC’s holdings in Cinemark were worth $658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orbis Allan Gray Ltd raised its holdings in shares of Cinemark by 31.0% in the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock worth $349,946,000 after buying an additional 3,563,810 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Cinemark by 8.4% in the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock worth $221,638,000 after acquiring an additional 742,307 shares during the last quarter. Lavaca Capital LLC acquired a new position in Cinemark during the 4th quarter worth $133,045,000. State Street Corp increased its position in Cinemark by 1.5% in the fourth quarter. State Street Corp now owns 3,950,606 shares of the company’s stock worth $91,812,000 after purchasing an additional 60,176 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Cinemark during the fourth quarter worth approximately $55,296,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNK. Guggenheim set a $37.00 target price on Cinemark in a research note on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research report on Wednesday, June 24th. Zacks Research downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Morgan Stanley raised their target price on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $36.00 price target on shares of Cinemark in a report on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.64.

Cinemark Trading Up 0.8%

NYSE CNK traded up $0.23 on Tuesday, hitting $30.18. The company’s stock had a trading volume of 38,518 shares, compared to its average volume of 2,349,874. The company’s 50-day moving average is $29.90 and its 200 day moving average is $27.36. The firm has a market cap of $3.52 billion, a PE ratio of 26.75 and a beta of 0.98. Cinemark Holdings Inc has a 1-year low of $21.60 and a 1-year high of $34.73. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.Cinemark’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) EPS. As a group, analysts predict that Cinemark Holdings Inc will post 2.18 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, May 28th. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. Cinemark’s dividend payout ratio is 31.86%.

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.