Renaissance Technologies LLC Sells 122,600 Shares of Cinemark Holdings Inc $CNK

Renaissance Technologies LLC trimmed its holdings in Cinemark Holdings Inc (NYSE:CNK) by 3.0% in the first quarter, Holdings Channel reports. The fund owned 3,994,785 shares of the company’s stock after selling 122,600 shares during the period. Renaissance Technologies LLC’s holdings in Cinemark were worth $113,931,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lavaca Capital LLC acquired a new stake in shares of Cinemark during the fourth quarter worth about $133,045,000. Orbis Allan Gray Ltd lifted its holdings in shares of Cinemark by 31.0% during the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after purchasing an additional 3,563,810 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Cinemark during the 4th quarter valued at about $55,296,000. Victory Capital Management Inc. grew 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 purchasing an additional 2,010,488 shares during the period. Finally, Woodline Partners LP acquired a new position in shares of Cinemark in the 3rd quarter valued at approximately $33,390,000.

Cinemark Stock Down 0.1%

NYSE:CNK opened at $32.67 on Friday. The stock has a 50-day simple moving average of $30.71 and a 200 day simple moving average of $28.07. Cinemark Holdings Inc has a 52-week low of $21.60 and a 52-week high of $34.73. The company has a market cap of $3.82 billion, a PE ratio of 28.91 and a beta of 0.98. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62.

Cinemark (NYSE:CNK) last released its 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). The firm had revenue of $643.10 million during the quarter, compared to the consensus estimate of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) EPS. On average, sell-side analysts expect that Cinemark Holdings Inc will post 2.14 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a $0.09 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. Cinemark’s dividend payout ratio (DPR) is 31.86%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CNK shares. Benchmark increased their target price on Cinemark from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Morgan Stanley lifted their price target on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 9th. B. Riley Financial reduced their price target on shares of Cinemark from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Zacks Research downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $31.00 price objective (down from $36.00) on shares of Cinemark in a report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $34.58.

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.