Stevens Capital Management LP Invests $855,000 in Cinemark Holdings, Inc. (CNK) Stock

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Stevens Capital Management LP purchased a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 21,276 shares of the company’s stock, valued at approximately $855,000.

Other institutional investors have also bought and sold shares of the company. Bruderman Asset Management LLC grew its holdings in Cinemark by 76.6% during the second quarter. Bruderman Asset Management LLC now owns 4,000 shares of the company’s stock worth $140,000 after purchasing an additional 1,735 shares during the period. Bessemer Group Inc. bought a new position in Cinemark during the third quarter worth about $168,000. Stratos Wealth Partners LTD. bought a new position in Cinemark during the third quarter worth about $171,000. Keybank National Association OH bought a new position in Cinemark during the third quarter worth about $202,000. Finally, BB&T Corp bought a new position in Cinemark during the third quarter worth about $225,000.

Shares of NYSE:CNK opened at $38.93 on Friday. Cinemark Holdings, Inc. has a 12-month low of $33.36 and a 12-month high of $44.00. The company has a market cap of $4.63 billion, a PE ratio of 17.23, a PEG ratio of 1.28 and a beta of 0.79. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.24 and a quick ratio of 1.20.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. Cinemark had a return on equity of 19.92% and a net margin of 9.12%. The company had revenue of $754.20 million during the quarter, compared to analysts’ expectations of $730.27 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Cinemark Holdings, Inc. will post 2.06 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, December 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, December 3rd. Cinemark’s dividend payout ratio is presently 56.64%.

In other news, CFO Sean Gamble sold 7,468 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $40.90, for a total transaction of $305,441.20. Following the completion of the sale, the chief financial officer now owns 92,673 shares in the company, valued at $3,790,325.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.90% of the company’s stock.

A number of research firms recently commented on CNK. Barrington Research reiterated a “buy” rating and set a $47.00 price target on shares of Cinemark in a report on Monday, August 13th. MKM Partners lifted their price target on Cinemark to $47.00 and gave the stock a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research cut Cinemark from a “buy” rating to a “hold” rating in a report on Friday, November 30th. ValuEngine cut Cinemark from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, Wedbush restated a “buy” rating and set a $43.00 price objective on shares of Cinemark in a report on Monday, October 15th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $43.90.

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About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of October 15, 2018, it operated 539 theatres with 5,998 screens in 41 states of the United States, Brazil, Argentina, Chile, and 12 other Latin American countries. The company was incorporated in 2006 and is headquartered in Plano, Texas.

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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