Cinemark Holdings Inc $CNK Shares Bought by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in Cinemark Holdings Inc by 38.7%, now owning 59,230 shares valued at approximately $1.79 million.
• Several other investment firms also boosted their positions in Cinemark, with some increasing stakes by over 600% in the first quarter.
• Cinemark declared a quarterly dividend of $0.08 per share, resulting in an annualized yield of 1.2%, with a payout ratio of 17.49%.

Ritholtz Wealth Management raised its position in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 38.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,230 shares of the company's stock after purchasing an additional 16,527 shares during the quarter. Ritholtz Wealth Management owned about 0.05% of Cinemark worth $1,788,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Cinemark by 2.8% in the first quarter. Principal Financial Group Inc. now owns 681,435 shares of the company's stock valued at $16,961,000 after purchasing an additional 18,645 shares during the period. Intech Investment Management LLC increased its stake in shares of Cinemark by 52.0% in the first quarter. Intech Investment Management LLC now owns 94,133 shares of the company's stock valued at $2,343,000 after purchasing an additional 32,190 shares during the period. Inspire Investing LLC increased its stake in shares of Cinemark by 605.1% in the first quarter. Inspire Investing LLC now owns 102,936 shares of the company's stock valued at $2,562,000 after purchasing an additional 88,338 shares during the period. GHP Investment Advisors Inc. increased its stake in shares of Cinemark by 104.8% in the first quarter. GHP Investment Advisors Inc. now owns 28,365 shares of the company's stock valued at $706,000 after purchasing an additional 14,518 shares during the period. Finally, Dark Forest Capital Management LP increased its stake in shares of Cinemark by 2,933.6% in the first quarter. Dark Forest Capital Management LP now owns 240,749 shares of the company's stock valued at $5,992,000 after purchasing an additional 232,813 shares during the period.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $25.17, for a total value of $181,224.00. Following the transaction, the executive vice president owned 203,768 shares in the company, valued at approximately $5,128,840.56. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company's stock.

Cinemark Trading Down 1.8%

Cinemark stock opened at $26.51 on Friday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.91 and a beta of 1.75. Cinemark Holdings Inc has a 1 year low of $23.12 and a 1 year high of $36.28. The firm's 50 day moving average price is $26.79 and its two-hundred day moving average price is $28.73.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.15). The business had revenue of $940.50 million during the quarter, compared to analyst estimates of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The company's quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. On average, research analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were given a $0.08 dividend. The ex-dividend date was Wednesday, August 27th. This represents a $0.32 annualized dividend and a yield of 1.2%. Cinemark's payout ratio is 17.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CNK shares. Roth Capital lowered their price objective on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Cinemark in a research note on Thursday, July 10th. They set a "buy" rating and a $36.00 price objective on the stock. Barrington Research reiterated an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research note on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, October 9th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.40.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.

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