Comgest Global Investors S.a.s. Lowers stake in Cinemark Holdings (CNK)

Cinemark Holdings (CNK) : Comgest Global Investors S.a.s. reduced its stake in Cinemark Holdings by 0.46% during the most recent quarter end. The investment management company now holds a total of 1,458,930 shares of Cinemark Holdings which is valued at $51.5 Million after selling 6,700 shares in Cinemark Holdings , the firm said in a disclosure report filed with the SEC on May 12, 2016.Cinemark Holdings makes up approximately 1.76% of Comgest Global Investors S.a.s.’s portfolio.

Other Hedge Funds, Including , Keybank National Associationoh boosted its stake in CNK in the latest quarter, The investment management firm added 57 additional shares and now holds a total of 6,570 shares of Cinemark Holdings which is valued at $231,921. Wbi Investments added CNK to its portfolio by purchasing 237,450 company shares during the most recent quarter which is valued at $8.4 Million. Cinemark Holdings makes up approx 0.36% of Wbi Investments’s portfolio.Comerica Bank reduced its stake in CNK by selling 3,744 shares or 4.75% in the most recent quarter. The Hedge Fund company now holds 75,146 shares of CNK which is valued at $2.7 Million. Cinemark Holdings makes up approx 0.02% of Comerica Bank’s portfolio.Wedge Capital Management L L Pnc boosted its stake in CNK in the latest quarter, The investment management firm added 3,646 additional shares and now holds a total of 16,446 shares of Cinemark Holdings which is valued at $579,228. Cinemark Holdings makes up approx 0.01% of Wedge Capital Management L L Pnc’s portfolio.

Cinemark Holdings opened for trading at $35.35 and hit $35.82 on the upside on Friday, eventually ending the session at $35.58, with a gain of 1.37% or 0.48 points. The heightened volatility saw the trading volume jump to 4,81,771 shares. Company has a market cap of $4,133 M.

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 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 .Company shares were Reiterated by MKM Partners on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $37 .

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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