Osterweis Capital Management Inc Lowers stake in Cinemark Holdings (CNK)

Cinemark Holdings (CNK) : Osterweis Capital Management Inc reduced its stake in Cinemark Holdings by 12.49% during the most recent quarter end. The investment management company now holds a total of 2,180,102 shares of Cinemark Holdings which is valued at $82,756,672 after selling 311,085 shares in Cinemark Holdings , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Cinemark Holdings makes up approximately 5.41% of Osterweis Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Group One Trading added CNK to its portfolio by purchasing 9,401 company shares during the most recent quarter which is valued at $356,862. Cinemark Holdings makes up approx 0.03% of Group One Trading’s portfolio.Westport Resources Management Inc reduced its stake in CNK by selling 250 shares or 25.0% in the most recent quarter. The Hedge Fund company now holds 750 shares of CNK which is valued at $28,470. Cinemark Holdings makes up approx 0.01% of Westport Resources Management Inc’s portfolio.Front Barnett Associates reduced its stake in CNK by selling 3,846 shares or 0.93% in the most recent quarter. The Hedge Fund company now holds 409,074 shares of CNK which is valued at $15,021,197. Cinemark Holdings makes up approx 2.94% of Front Barnett Associates’s portfolio.Anchor Capital Advisors reduced its stake in CNK by selling 38,621 shares or 2.56% in the most recent quarter. The Hedge Fund company now holds 1,472,504 shares of CNK which is valued at $54,070,347. Cinemark Holdings makes up approx 1.39% of Anchor Capital Advisors’s portfolio.Naples Global Advisors reduced its stake in CNK by selling 250 shares or 0.9% in the most recent quarter. The Hedge Fund company now holds 27,651 shares of CNK which is valued at $1,028,064. Cinemark Holdings makes up approx 0.41% of Naples Global Advisors’s portfolio.

Cinemark Holdings opened for trading at $37.95 and hit $38.18 on the upside on Monday, eventually ending the session at $38.03, with a gain of 0.50% or 0.19 points. The heightened volatility saw the trading volume jump to 4,01,222 shares. Company has a market cap of $4,420 M.

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. Loop Capital Initiated Cinemark Holdings on Aug 24, 2016 to “Buy”, Price Target of the shares are set at $44.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.

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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