Corient Private Wealth LP bought a new position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 35,274 shares of the company's stock, valued at approximately $1,119,000.
A number of other large investors have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cinemark in the second quarter valued at approximately $22,657,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Cinemark during the 4th quarter worth approximately $1,661,000. UBS Group AG boosted its holdings in shares of Cinemark by 49.8% in the 4th quarter. UBS Group AG now owns 1,100,402 shares of the company's stock valued at $25,573,000 after buying an additional 365,630 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Cinemark in the 2nd quarter valued at about $530,855,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Cinemark in the 2nd quarter valued at about $449,000.
Cinemark Trading Up 0.2%
Shares of CNK opened at $35.06 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 20.75 and a beta of 0.98. 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 $34.28 and its 200 day moving average price is $30.69.
Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. As a group, research analysts predict that Cinemark Holdings Inc will post 2.36 earnings per share for the current year.
Cinemark Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Cinemark's dividend payout ratio (DPR) is currently 21.30%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Cinemark from a "sell" rating to a "neutral" rating and increased their price target for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. Roth Capital set a $40.00 price target on Cinemark in a research note on Thursday, July 30th. B. Riley Financial raised their target price on shares of Cinemark from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Moffett Nathanson restated a "buy" rating and issued a $40.00 target price on shares of Cinemark in a report on Thursday, July 30th. Finally, Wells Fargo & Company upped their price objective on shares of Cinemark from $31.00 to $34.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.93.
Check Out Our Latest Report on Cinemark
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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