Martin Currie Ltd adds Cinemark Holdings (CNK) to its portfolio

Cinemark Holdings (CNK) : Martin Currie Ltd added new position in Cinemark Holdings during the most recent quarter end. The investment management firm now holds 196,627 shares of Cinemark Holdings which is valued at $7,463,961 , the company said in a statement filed on Aug 15, 2016 with the SEC.Cinemark Holdings makes up approximately 0.69% of Martin Currie Ltd’s portfolio.

Other Hedge Funds, Including , Engineers Gate Manager Lp added CNK to its portfolio by purchasing 85,470 company shares during the most recent quarter which is valued at $3,244,441. Cinemark Holdings makes up approx 0.22% of Engineers Gate Manager Lp’s portfolio.Raymond James Associates boosted its stake in CNK in the latest quarter, The investment management firm added 193,382 additional shares and now holds a total of 1,204,518 shares of Cinemark Holdings which is valued at $45,723,503. Cinemark Holdings makes up approx 0.14% of Raymond James Associates’s portfolio.Jennison Associates reduced its stake in CNK by selling 25,124 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 2,172,356 shares of CNK which is valued at $79,768,912. Cinemark Holdings makes up approx 0.08% of Jennison Associates’s portfolio. Huntington National Bank sold out all of its stake in CNK during the most recent quarter. The investment firm sold 1,562 shares of CNK which is valued $58,887.

Cinemark Holdings opened for trading at $38.7 and hit $39.14 on the upside on Wednesday, eventually ending the session at $38.9, with a gain of 0.39% or 0.15 points. The heightened volatility saw the trading volume jump to 361,247 shares. Company has a market cap of $4,521 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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