78,056 Shares in Cinemark Holdings Inc $CNK Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC purchased a new stake in Cinemark Holdings Inc (NYSE:CNK) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 78,056 shares of the company’s stock, valued at approximately $2,477,000.

A number of other large investors have also recently added to or reduced their stakes in CNK. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cinemark in the 2nd quarter worth about $22,657,000. BlackRock Inc. bought a new position in shares of Cinemark during the second quarter worth about $530,855,000. EP Wealth Advisors LLC acquired a new position in Cinemark in the second quarter worth about $449,000. The Manufacturers Life Insurance Company acquired a new position in Cinemark in the second quarter worth about $1,659,000. Finally, Assenagon Asset Management S.A. grew its stake in Cinemark by 378.4% in the second quarter. Assenagon Asset Management S.A. now owns 117,150 shares of the company’s stock worth $3,717,000 after purchasing an additional 92,661 shares in the last quarter.

Cinemark Stock Up 0.0%

CNK stock opened at $35.09 on Monday. The stock has a market cap of $4.07 billion, a PE ratio of 20.76 and a beta of 0.98. The firm’s 50-day simple moving average is $34.63 and its 200 day simple moving average is $31.05. Cinemark Holdings Inc has a fifty-two week low of $21.60 and a fifty-two week high of $38.98. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87.

Cinemark (NYSE:CNK) last posted its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $0.63 EPS. Cinemark’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts predict that Cinemark Holdings Inc will post 2.36 EPS for the current year.

Cinemark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 26th. Cinemark’s dividend payout ratio is 21.30%.

Analyst Upgrades and Downgrades

CNK has been the topic of a number of research analyst reports. Moffett Nathanson reaffirmed a “buy” rating and set a $40.00 target price on shares of Cinemark in a report on Thursday, July 30th. Wall Street Zen downgraded Cinemark from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. The Goldman Sachs Group raised Cinemark from a “sell” rating to a “neutral” rating and upped their price target for the company from $23.00 to $30.00 in a research report on Wednesday, July 8th. Wells Fargo & Company raised their price objective on Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, Zacks Research downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $37.93.

Cinemark Company Profile

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.

In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.