Corient Private Wealth LP Purchases 38,502 Shares of Cinemark Holdings Inc $CNK

Key Points

• Corient Private Wealth initiated a position in Cinemark by purchasing 38,502 shares valued at approximately $1.22 million. Several other institutional investors, including BlackRock and Connor Clark & Lunn, also acquired stakes during the second quarter.
• Analysts maintain a generally positive view of Cinemark, with a consensus rating of “Moderate Buy” and an average price target of $37.93. Nine analysts rate the stock Buy, while six rate it Hold.
• Cinemark reported stronger-than-expected quarterly results, posting $1.19 in EPS and $1.09 billion in revenue, up 15.5% year over year. The company also paid a quarterly dividend of $0.09 per share, equivalent to a 1.0% annual yield.

Corient Private Wealth LP acquired a new position in Cinemark Holdings Inc (NYSE:CNK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 38,502 shares of the company's stock, valued at approximately $1,222,000.

A number of other institutional investors have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cinemark in the 2nd quarter worth approximately $22,657,000. BlackRock Inc. acquired a new stake in shares of Cinemark during the 2nd quarter valued at $530,855,000. EP Wealth Advisors LLC purchased a new position in shares of Cinemark during the 2nd quarter valued at $449,000. Legal & General Group Plc purchased a new position in shares of Cinemark during the 2nd quarter valued at $7,680,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Cinemark in the second quarter worth $1,659,000.

Wall Street Analyst Weigh In

CNK has been the topic of several research reports. Weiss Ratings raised Cinemark from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Roth Capital set a $40.00 price target on Cinemark in a report on Thursday, July 30th. Wedbush boosted their price target on Cinemark from $40.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Wall Street Zen downgraded Cinemark from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $40.00 price objective on shares of Cinemark in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.93.

Cinemark Stock Performance

NYSE:CNK opened at $37.71 on Friday. The firm has a market capitalization of $4.37 billion, a PE ratio of 22.32 and a beta of 0.98. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $38.98. 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 firm's fifty day simple moving average is $35.80 and its 200 day simple moving average is $31.58.

Cinemark (NYSE:CNK - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.16. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The business's revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, sell-side analysts anticipate that Cinemark Holdings Inc will post 2.51 EPS for the current year.

Cinemark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 26th. Cinemark's dividend payout ratio is currently 21.30%.

About Cinemark

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.

In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.

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