Horan Capital Advisors LLC. lessened its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,491 shares of the company’s stock after selling 3,190 shares during the period. Cinemark makes up about 1.8% of Horan Capital Advisors LLC.’s holdings, making the stock its 18th biggest holding. Horan Capital Advisors LLC. owned 0.06% of Cinemark worth $2,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in Cinemark by 766.1% in the 1st quarter. Quadrant Capital Group LLC now owns 1,429 shares of the company’s stock worth $55,000 after buying an additional 1,264 shares in the last quarter. Marshall Wace LLP purchased a new position in Cinemark in the 1st quarter worth approximately $65,000. Cutler Group LP bought a new stake in shares of Cinemark in the 1st quarter worth approximately $115,000. Starr International Co. Inc. bought a new stake in shares of Cinemark in the 1st quarter worth approximately $154,000. Finally, Machina Capital S.A.S. lifted its holdings in shares of Cinemark by 569.4% in the 2nd quarter. Machina Capital S.A.S. now owns 4,686 shares of the company’s stock worth $169,000 after acquiring an additional 3,986 shares during the last quarter. 98.33% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Sean Gamble sold 5,669 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $41.50, for a total transaction of $235,263.50. Following the completion of the sale, the chief financial officer now directly owns 126,025 shares in the company, valued at approximately $5,230,037.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.00% of the company’s stock.
Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.06. Cinemark had a net margin of 6.31% and a return on equity of 13.75%. The company had revenue of $957.76 million during the quarter, compared to analyst estimates of $906.57 million. Equities research analysts forecast that Cinemark Holdings, Inc. will post 2.29 EPS for the current year.
A number of brokerages have recently weighed in on CNK. Credit Suisse Group began coverage on shares of Cinemark in a report on Friday, July 19th. They issued an “outperform” rating and a $43.00 price objective for the company. Wedbush restated a “buy” rating and issued a $49.00 price objective on shares of Cinemark in a report on Friday. ValuEngine upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Loop Capital upgraded shares of Cinemark from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Wednesday, July 3rd. Finally, MKM Partners lowered their price objective on shares of Cinemark to $43.00 and set a “buy” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.30.
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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