Ensign Peak Advisors cuts stakes in Cinemark by 42.8%

Ensign Peak Advisors Inc trimmed its position in Cinemark Holdings, Inc. (NYSE:CNK) by 42.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 92,042 shares of the company’s stock after selling 68,900 shares during the quarter.

Ensign Peak Advisors Inc’s holdings in Cinemark were worth $1,063,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Cinemark by 33.4% in the 1st quarter.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,080 shares of the company’s stock worth $256,000 after buying an additional 6,277 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Cinemark by 26.9% during the 2nd quarter.

American International Group Inc. now owns 263,914 shares of the company’s stock worth $3,048,000 after purchasing an additional 56,018 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cinemark by 32.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,308 shares of the company’s stock worth $95,000 after purchasing an additional 2,279 shares during the last quarter.

BNP Paribas Arbitrage SA boosted its holdings in shares of Cinemark by 1,903.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 397,348 shares of the company’s stock worth $4,049,000 after purchasing an additional 377,518 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Cinemark by 26.2% during the 1st quarter. Toronto Dominion Bank now owns 4,968 shares of the company’s stock worth $51,000 after purchasing an additional 1,030 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Shares of NYSE CNK opened at $12.74 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 1.22. Cinemark Holdings, Inc. has a 52-week low of $5.71 and a 52-week high of $39.81. The business’s 50 day moving average is $12.93 and its two-hundred day moving average is $14.27.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($1.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.46) by $0.01. Cinemark had a negative return on equity of 9.76% and a negative net margin of 7.96%. The business had revenue of $8.97 million for the quarter, compared to analyst estimates of $7.24 million.

During the same quarter in the prior year, the company earned $0.86 earnings per share. The company’s revenue was down 99.1% on a year-over-year basis. Sell-side analysts expect that Cinemark Holdings, Inc. will post -3.78 EPS for the current fiscal year.

Several research analysts have recently weighed in on the company. TheStreet cut Cinemark from a “c” rating to a “d+” rating in a report on Thursday, June 4th. Barrington Research restated a “buy” rating and set a $20.00 target price on shares of Cinemark in a report on Tuesday, August 4th. MKM Partners lowered their target price on Cinemark from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, July 13th. B. Riley restated a “hold” rating and set a $16.00 target price on shares of Cinemark in a report on Friday, June 26th.

Finally, Benchmark raised shares of Cinemark from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, August 20th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.54.

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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