Vanguard Group cuts stakes in Cinemark by 6.5%

(Ticker Report) – Vanguard Group Inc. reduced its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.

The fund owned 9,671,457 shares of the company’s stock after selling 672,998 shares during the quarter. Vanguard Group Inc. owned 8.22% of Cinemark worth $111,706,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CNK. ArrowMark Colorado Holdings LLC grew its stake in shares of Cinemark by 43.0% during the first quarter. ArrowMark Colorado Holdings LLC now owns 8,205,177 shares of the company’s stock valued at $83,611,000 after buying an additional 2,466,425 shares during the last quarter.

Deutsche Bank AG grew its stake in shares of Cinemark by 1,174.5% during the first quarter. Deutsche Bank AG now owns 2,516,669 shares of the company’s stock valued at $25,643,000 after buying an additional 2,319,210 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Cinemark by 4,346.2% during the first quarter.

Two Sigma Investments LP now owns 779,411 shares of the company’s stock valued at $7,942,000 after buying an additional 761,881 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Cinemark by 393.4% during the second quarter. First Trust Advisors LP now owns 849,725 shares of the company’s stock valued at $9,814,000 after buying an additional 677,523 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Cinemark by 312.1% during the first quarter.

Two Sigma Advisers LP now owns 725,219 shares of the company’s stock valued at $7,390,000 after buying an additional 549,219 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on CNK shares. TheStreet lowered shares of Cinemark from a “c” rating to a “d+” rating in a report on Thursday, June 4th. Barrington Research reiterated a “buy” rating and set a $20.00 target price on shares of Cinemark in a report on Tuesday, August 4th. Wedbush dropped their target price on shares of Cinemark from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th.

Zacks Investment Research upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cinemark from $23.00 to $19.00 in a report on Wednesday, August 5th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Cinemark presently has a consensus rating of “Buy” and a consensus target price of $19.54.

Shares of CNK opened at $10.43 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 one year low of $5.71 and a one year high of $39.25. The company has a 50-day simple moving average of $12.82 and a two-hundred day simple moving average of $13.19. The firm has a market capitalization of $1.23 billion, a PE ratio of -7.10 and a beta of 1.84.

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

During the same period last year, the business posted $0.86 earnings per share. Cinemark’s quarterly revenue was down 99.1% compared to the same quarter last year. Analysts expect that Cinemark Holdings, Inc. will post -3.98 EPS for the current fiscal year.

Cinemark 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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