Deltec Asset Management Lowers stake in Cinemark Holdings (CNK)

Cinemark Holdings (CNK) : Deltec Asset Management reduced its stake in Cinemark Holdings by 21.59% during the most recent quarter end. The investment management company now holds a total of 34,500 shares of Cinemark Holdings which is valued at $1,300,650 after selling 9,500 shares in Cinemark Holdings , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Cinemark Holdings makes up approximately 0.31% of Deltec Asset Management’s portfolio.

Other Hedge Funds, Including , K.j. Harrison Partners Inc added CNK to its portfolio by purchasing 50,000 company shares during the most recent quarter which is valued at $1,885,000. Cinemark Holdings makes up approx 0.99% of K.j. Harrison Partners Inc’s portfolio.Msi Financial Services Inc boosted its stake in CNK in the latest quarter, The investment management firm added 446 additional shares and now holds a total of 498 shares of Cinemark Holdings which is valued at $18,775.

Cinemark Holdings closed down -0.03 points or -0.08% at $37.6 with 5,02,734 shares getting traded on Friday. Post opening the session at $37.54, the shares hit an intraday low of $37.26 and an intraday high of $37.84 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Cinemark Holdings reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.47. The company had revenue of $704.50 million for the quarter, compared to analysts expectations of $699.76 million. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Cinemark Holdings. 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 .Company shares were Reiterated by FBR Capital on May 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 41 from a previous price target of $40 .Company shares were Reiterated by Wedbush on May 11, 2016 to “Neutral”, Firm has raised the Price Target to $ 40 from a previous price target of $36 .

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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