Naples Global Advisors LLC Reduces Position in Cinemark Holdings, Inc. (NYSE:CNK)

Naples Global Advisors LLC trimmed its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 1.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 17,880 shares of the company’s stock after selling 326 shares during the period. Naples Global Advisors LLC’s holdings in Cinemark were worth $715,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System raised its holdings in Cinemark by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the company’s stock worth $1,140,000 after purchasing an additional 300 shares in the last quarter. BB&T Corp grew its position in Cinemark by 5.4% during the fourth quarter. BB&T Corp now owns 5,891 shares of the company’s stock worth $211,000 after buying an additional 302 shares during the period. Eqis Capital Management Inc. grew its position in Cinemark by 2.2% during the fourth quarter. Eqis Capital Management Inc. now owns 20,290 shares of the company’s stock worth $726,000 after buying an additional 429 shares during the period. Nisa Investment Advisors LLC grew its position in Cinemark by 2.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 25,300 shares of the company’s stock worth $906,000 after buying an additional 500 shares during the period. Finally, Advisor Group Inc. grew its position in Cinemark by 10.6% during the fourth quarter. Advisor Group Inc. now owns 5,267 shares of the company’s stock worth $188,000 after buying an additional 506 shares during the period. 96.19% of the stock is owned by institutional investors and hedge funds.

CNK has been the topic of several recent analyst reports. ValuEngine lowered shares of Cinemark from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Wedbush reiterated a “buy” rating and issued a $46.00 price target on shares of Cinemark in a research report on Wednesday, January 30th. Loop Capital began coverage on shares of Cinemark in a research report on Thursday, January 31st. They issued a “hold” rating and a $41.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Cinemark from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Cinemark presently has an average rating of “Buy” and a consensus price target of $44.67.

In related news, insider Valmir Fernandes sold 4,033 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $43.00, for a total transaction of $173,419.00. Following the completion of the sale, the insider now directly owns 114,961 shares of the company’s stock, valued at approximately $4,943,323. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.00% of the company’s stock.

NYSE:CNK traded down $0.04 during trading hours on Wednesday, reaching $39.43. 748,900 shares of the company were exchanged, compared to its average volume of 1,166,506. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 2.18. The company has a market cap of $4.62 billion, a P/E ratio of 21.55, a P/E/G ratio of 1.15 and a beta of 0.79. Cinemark Holdings, Inc. has a 52-week low of $33.36 and a 52-week high of $43.51.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. Cinemark had a net margin of 5.85% and a return on equity of 12.61%. The company had revenue of $714.70 million for the quarter, compared to the consensus estimate of $688.51 million. During the same quarter last year, the firm posted $0.53 earnings per share. Cinemark’s revenue was down 8.4% on a year-over-year basis. Research analysts forecast that Cinemark Holdings, Inc. will post 2.34 earnings per share for the current fiscal year.

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Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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