Saber Capital Managment LLC Purchases New Holdings in Cinemark Holdings Inc $CNK

Saber Capital Managment LLC purchased a new stake in Cinemark Holdings Inc (NYSE:CNK) in the 4th quarter, HoldingsChannel reports. The fund purchased 271,085 shares of the company’s stock, valued at approximately $6,300,000. Cinemark comprises approximately 5.3% of Saber Capital Managment LLC’s holdings, making the stock its 6th largest position.

Several other hedge funds have also made changes to their positions in CNK. Lavaca Capital LLC purchased a new stake in shares of Cinemark in the 4th quarter valued at approximately $133,045,000. Alyeska Investment Group L.P. purchased a new stake in shares of Cinemark in the 4th quarter valued at approximately $55,296,000. Victory Capital Management Inc. lifted its position in shares of Cinemark by 12,759.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,026,245 shares of the company’s stock valued at $47,090,000 after acquiring an additional 2,010,488 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Cinemark in the 3rd quarter valued at approximately $33,390,000. Finally, Man Group plc purchased a new stake in shares of Cinemark in the 2nd quarter valued at approximately $33,953,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNK. Morgan Stanley upped their price target on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. B. Riley Financial increased their target price on shares of Cinemark from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday. The Goldman Sachs Group reiterated a “sell” rating and issued a $22.00 target price on shares of Cinemark in a research report on Thursday, February 19th. Roth Mkm reiterated a “buy” rating and issued a $37.00 target price on shares of Cinemark in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.31.

Cinemark Stock Performance

Shares of CNK opened at $33.84 on Monday. The company’s fifty day moving average is $29.00 and its 200-day moving average is $26.51. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $34.40. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 29.94 and a beta of 1.00. 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 announced its quarterly earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The business had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. During the same quarter last year, the company earned ($0.32) EPS. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. Equities analysts expect that Cinemark Holdings Inc will post 2.16 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were paid 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 1.1%. 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.