175,400 Shares in Cinemark Holdings Inc $CNK Purchased by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 175,400 Cinemark shares worth approximately $5.6 million, representing about 0.15% of the company. Several other institutional investors also increased or initiated positions.
• Cinemark reported quarterly EPS of $1.19, beating estimates of $1.03, while revenue reached $1.09 billion and rose 15.5% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $37.93. Cinemark also declared a quarterly dividend of $0.09 per share, representing a 1.0% yield.

Canada Pension Plan Investment Board acquired a new position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 175,400 shares of the company's stock, valued at approximately $5,565,000. Canada Pension Plan Investment Board owned approximately 0.15% of Cinemark at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNK. EverSource Wealth Advisors LLC lifted its stake in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $28,000 after purchasing an additional 507 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Cinemark during the 4th quarter valued at approximately $83,000. Kestra Advisory Services LLC bought a new position in shares of Cinemark during the 4th quarter valued at approximately $102,000. KBC Group NV increased its position in shares of Cinemark by 56.9% during the 1st quarter. KBC Group NV now owns 4,334 shares of the company's stock valued at $124,000 after purchasing an additional 1,572 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Cinemark by 10.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,982 shares of the company's stock valued at $158,000 after buying an additional 462 shares during the period.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Friday, July 31st. Moffett Nathanson reiterated a "buy" rating and issued a $40.00 price target on shares of Cinemark in a report on Thursday, July 30th. Wells Fargo & Company raised their price target on Cinemark from $31.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. cut Cinemark from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $40.00 to $39.00 in a report on Friday, August 14th. Finally, Wall Street Zen cut Cinemark from a "strong-buy" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and a consensus target price of $37.93.

Cinemark Trading Up 0.1%

NYSE:CNK opened at $36.04 on Monday. The firm has a 50-day simple moving average of $34.10 and a 200-day simple moving average of $30.38. Cinemark Holdings Inc has a one year low of $21.60 and a one year high of $38.98. The firm has a market cap of $4.18 billion, a P/E ratio of 21.33 and a beta of 1.00. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.16. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The company's quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. Equities analysts anticipate that Cinemark Holdings Inc will post 2.36 EPS for the current fiscal year.

Cinemark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Cinemark's dividend payout ratio (DPR) is 21.30%.

Cinemark Company Profile

Cinemark Holdings, Inc NYSE: CNK is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company's core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark's exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company's product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.

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