Axa Has $23.06 Million Holdings in Cinemark Holdings, Inc. (CNK)

Axa lowered its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 11.3% in the third quarter, Holdings Channel reports. The institutional investor owned 573,700 shares of the company’s stock after selling 72,990 shares during the period. Axa’s holdings in Cinemark were worth $23,062,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Xact Kapitalforvaltning AB raised its position in Cinemark by 8.0% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 17,632 shares of the company’s stock worth $709,000 after buying an additional 1,300 shares during the last quarter. Atria Investments LLC raised its position in Cinemark by 12.4% during the 3rd quarter. Atria Investments LLC now owns 12,889 shares of the company’s stock worth $518,000 after buying an additional 1,423 shares during the last quarter. Arizona State Retirement System raised its position in Cinemark by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 75,488 shares of the company’s stock worth $3,035,000 after buying an additional 1,708 shares during the last quarter. Bruderman Asset Management LLC raised its position in Cinemark by 76.6% during the 2nd quarter. Bruderman Asset Management LLC now owns 4,000 shares of the company’s stock worth $140,000 after buying an additional 1,735 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC increased its holdings in shares of Cinemark by 5.9% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 36,000 shares of the company’s stock valued at $1,263,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.

A number of brokerages have recently issued reports on CNK. ValuEngine downgraded shares of Cinemark from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada increased their price target on shares of Cinemark from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, November 5th. Wedbush reiterated an “outperform” rating and issued a $43.00 price target on shares of Cinemark in a report on Thursday, August 2nd. Imperial Capital increased their price target on shares of Cinemark from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 2nd. Finally, B. Riley cut their price target on shares of Cinemark from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday, November 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $43.70.

In related news, CFO Sean Gamble sold 7,468 shares of the stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $40.90, for a total value of $305,441.20. Following the sale, the chief financial officer now directly owns 92,673 shares of the company’s stock, valued at approximately $3,790,325.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 8.90% of the stock is currently owned by corporate insiders.

Shares of CNK opened at $37.12 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $4.22 billion, a PE ratio of 16.42, a P/E/G ratio of 1.17 and a beta of 0.80. Cinemark Holdings, Inc. has a 52-week low of $33.36 and a 52-week high of $44.00.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.09. The business had revenue of $754.20 million during the quarter, compared to the consensus estimate of $730.27 million. Cinemark had a net margin of 9.12% and a return on equity of 19.92%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. On average, equities research analysts forecast that Cinemark Holdings, Inc. will post 2.05 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, December 4th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 3.45%. Cinemark’s payout ratio is 56.64%.

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Cinemark Company Profile

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.

See Also: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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