Nuveen LLC Purchases New Stake in Cinemark Holdings Inc $CNK

Key Points

• Nuveen LLC invested approximately $32.30 million in Cinemark Holdings Inc, acquiring over 1.29 million shares and representing 1.13% ownership in the company.
• Several institutional investors, including LPL Financial and Elequin Capital, also increased their stakes in Cinemark during the previous quarter, indicating growing interest in the stock.
• Cinemark recently announced a quarterly dividend of $0.08, with an annualized yield of 1.2%, reflecting a payout ratio of 17.49%.

Nuveen LLC acquired a new stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,297,592 shares of the company's stock, valued at approximately $32,297,000. Nuveen LLC owned 1.13% of Cinemark at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. LPL Financial LLC raised its position in shares of Cinemark by 6.8% in the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company's stock valued at $270,000 after purchasing an additional 556 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Cinemark by 3.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock valued at $504,000 after acquiring an additional 591 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Cinemark by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock valued at $358,000 after acquiring an additional 618 shares in the last quarter. Quarry LP grew its stake in shares of Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after acquiring an additional 623 shares in the last quarter. Finally, Elequin Capital LP grew its stake in shares of Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after acquiring an additional 677 shares in the last quarter.

Cinemark Price Performance

Shares of CNK stock traded up $0.4050 on Friday, reaching $26.5850. The company had a trading volume of 349,882 shares, compared to its average volume of 3,913,256. The stock has a market capitalization of $3.06 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.90 and a beta of 1.90. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. Cinemark Holdings Inc has a one year low of $23.12 and a one year high of $36.28. The business's 50-day moving average is $28.79 and its 200 day moving average is $28.74.

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

Cinemark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, August 27th. This represents a $0.32 annualized dividend and a yield of 1.2%. Cinemark's dividend payout ratio (DPR) is presently 17.49%.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 52,524 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the completion of the transaction, the insider owned 94,890 shares in the company, valued at approximately $3,022,246.50. This trade represents a 35.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the transaction, the insider owned 130,612 shares of the company's stock, valued at approximately $4,311,502.12. The trade was a 16.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,724 shares of company stock worth $2,679,363. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CNK shares. Barrington Research restated an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research note on Monday, August 4th. Wells Fargo & Company restated an "overweight" rating and issued a $33.00 price target (down from $36.00) on shares of Cinemark in a research note on Monday, August 4th. Wedbush upgraded shares of Cinemark from a "neutral" rating to an "outperform" rating and upped their price target for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Wall Street Zen upgraded shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Deutsche Bank Aktiengesellschaft initiated 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. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Cinemark has an average rating of "Moderate Buy" and a consensus target price of $33.67.

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.