Impala Asset Management LLC Buys New Shares in Cinemark Holdings, Inc. (NYSE:CNK)

Impala Asset Management LLC bought a new stake in Cinemark Holdings, Inc. (NYSE:CNK) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 927,297 shares of the company’s stock, valued at approximately $10,710,000. Cinemark comprises about 1.2% of Impala Asset Management LLC’s investment portfolio, making the stock its 26th biggest holding. Impala Asset Management LLC owned approximately 0.79% of Cinemark as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CNK. Q Global Advisors LLC acquired a new stake in Cinemark during the second quarter valued at approximately $1,754,000. Verition Fund Management LLC bought a new position in Cinemark during the second quarter valued at about $187,000. APG Asset Management N.V. bought a new position in Cinemark during the second quarter valued at about $207,000. Bain Capital Credit LP acquired a new stake in shares of Cinemark in the second quarter valued at about $4,043,000. Finally, TD Asset Management Inc. grew its position in shares of Cinemark by 4.3% in the second quarter. TD Asset Management Inc. now owns 60,000 shares of the company’s stock valued at $693,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

NYSE CNK traded down $1.00 during trading on Thursday, reaching $12.74. 7,707,700 shares of the company traded hands, compared to its average volume of 5,066,719. Cinemark Holdings, Inc. has a 1-year low of $5.71 and a 1-year high of $39.81. The stock’s 50 day moving average price is $12.91 and its two-hundred day moving average price is $14.37. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -8.71 and a beta of 1.84.

Cinemark (NYSE:CNK) last posted its earnings results on Tuesday, August 4th. The company reported ($1.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.97 million during the quarter, compared to analysts’ expectations of $7.24 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. Cinemark’s quarterly revenue was down 99.1% compared to the same quarter last year. Equities research analysts expect that Cinemark Holdings, Inc. will post -3.78 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on CNK shares. Imperial Capital lowered their price target on Cinemark from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, June 19th. Wedbush lowered their price target on Cinemark from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Credit Suisse Group downgraded Cinemark from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $13.00 in a research report on Monday, June 29th. Zacks Investment Research raised Cinemark from a “sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley decreased their target price on Cinemark from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, August 3rd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $19.54.

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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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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