Luxor Capital Group LP Increases Stake in Cinemark Holdings Inc $CNK

Luxor Capital Group LP lifted its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 35.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 231,135 shares of the company’s stock after buying an additional 60,370 shares during the quarter. Luxor Capital Group LP owned approximately 0.20% of Cinemark worth $6,476,000 at the end of the most recent reporting period.

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

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of Cinemark stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total transaction of $206,941.20. Following the transaction, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Cinemark Price Performance

Shares of NYSE:CNK opened at $26.44 on Tuesday. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $34.01. The firm has a market capitalization of $3.05 billion, a P/E ratio of 30.39 and a beta of 1.08. 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 company’s fifty day moving average price is $25.25 and its 200 day moving average price is $26.03.

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

Cinemark Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Morgan Stanley reissued an “equal weight” rating and issued a $28.00 target price (down from $35.00) on shares of Cinemark in a report on Thursday, December 18th. UBS Group raised Cinemark to a “buy” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. dropped their price objective on Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Zacks Research raised Cinemark from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Roth Mkm restated a “buy” rating and set a $36.00 target price on shares of Cinemark in a research note on Thursday, February 19th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Profile

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.