Ardevora Asset Management Llp buys $30,948,708 stake in Cinemark Holdings (CNK)

Cinemark Holdings (CNK) : Ardevora Asset Management Llp scooped up 116,800 additional shares in Cinemark Holdings during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 810,600 shares of Cinemark Holdings which is valued at $30,948,708.Cinemark Holdings makes up approximately 1.23% of Ardevora Asset Management Llp’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in CNK by selling 22,085 shares or 8.97% in the most recent quarter. The Hedge Fund company now holds 224,103 shares of CNK which is valued at $8,229,062. Cinemark Holdings makes up approx 0.02% of California State Teachers Retirement System’s portfolio. First Midwest Bank Trust Division added CNK to its portfolio by purchasing 6,942 company shares during the most recent quarter which is valued at $261,713. Cinemark Holdings makes up approx 0.03% of First Midwest Bank Trust Division’s portfolio.

Cinemark Holdings closed down -0.05 points or -0.13% at $37.91 with 7,76,222 shares getting traded on Monday. Post opening the session at $37.96, the shares hit an intraday low of $37.81 and an intraday high of $38.28 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Cinemark Holdings reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.50. The company had revenue of $744.40 million for the quarter, compared to analysts expectations of $741.65 million. The company’s revenue was down -6.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on Cinemark Holdings. Company shares were Reiterated by Wunderlich on Aug 12, 2016 to “Buy”, Firm has raised the Price Target to $ 47 from a previous price target of $40 .Cinemark Holdings was Downgraded by Drexel Hamilton to ” Hold” on Aug 10, 2016. Company shares were Reiterated by MKM Partners on Jul 25, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $40 .

Cinemark Holdings Inc. is engaged in the motion picture exhibition business with theatres in the United States Brazil Mexico Argentina Chile Colombia Peru Ecuador Honduras El Salvador Nicaragua Costa Rica Panama Guatemala and Bolivia. The Company manages its business in two segments: U.S. markets and international markets. As of December 31 2014 the Company operated 495 theatres and 5676 screens in 41 states and 13 Latin American countries. The Company develops new platforms and markets concepts for its domestic theatre circuit including NextGen CineArts Cinemark Bistro Cinemark Reserve and other premium concepts such as its Cinemark XD Extreme Digital Cinema (XD). As of December 31 2014 the Company’s United States circuit had 335 theatres and 4499 screens in 41 states and its international circuit had 160 theatres and 1177 screens.

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