Bank of America Corp DE boosted its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 115.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 831,389 shares of the company's stock after purchasing an additional 444,965 shares during the period. Bank of America Corp DE owned about 0.71% of Cinemark worth $23,711,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNK. EverSource Wealth Advisors LLC lifted its holdings in Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $28,000 after acquiring an additional 507 shares during the period. Leonteq Securities AG bought a new position in Cinemark in the fourth quarter worth approximately $83,000. Kestra Advisory Services LLC bought a new position in Cinemark in the fourth quarter worth approximately $102,000. Bayforest Capital Ltd purchased a new position in shares of Cinemark during the 4th quarter worth $121,000. Finally, KBC Group NV grew 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 acquiring an additional 1,572 shares during the period.
Wall Street Analyst Weigh In
Several research firms recently weighed in on CNK. Benchmark lifted their target price on Cinemark from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Zacks Research raised Cinemark from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $40.00 price objective on shares of Cinemark in a research note on Friday, July 31st. B. Riley Financial raised their target price on shares of Cinemark from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Finally, Roth Capital set a $40.00 price target on shares of Cinemark in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.93.
View Our Latest Analysis on CNK
Cinemark Trading Up 0.1%
Shares of CNK stock opened at $37.42 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 22.14 and a beta of 1.00. Cinemark Holdings Inc has a 12-month low of $21.60 and a 12-month high of $38.98. The stock's 50-day moving average price is $33.41 and its 200-day moving average price is $29.60.
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, topping analysts' consensus estimates of $1.03 by $0.16. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The company's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. Equities research analysts predict that Cinemark Holdings Inc will post 2.34 EPS for the current fiscal year.
Cinemark Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Cinemark's dividend payout ratio is presently 21.30%.
Cinemark Profile
(
Free Report)
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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