Public Sector Pension Investment Board Boosts Stock Position in Cinemark Holdings Inc $CNK

Key Points

• The Public Sector Pension Investment Board increased its holdings in Cinemark Holdings Inc by 27.3%, acquiring a total of 338,623 shares valued at approximately $8.43 million.
• Cinemark reported a missed earnings per share estimate for the latest quarter, with actual EPS at $0.63 compared to a consensus of $0.78, despite a revenue increase of 28.1% year-over-year.
• A quarterly dividend of $0.08 per share has been declared, resulting in an annualized yield of 1.2%, with an ex-dividend date set for August 27th.

Public Sector Pension Investment Board boosted its stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 27.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 338,623 shares of the company's stock after acquiring an additional 72,564 shares during the period. Public Sector Pension Investment Board owned 0.29% of Cinemark worth $8,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNK. Elequin Capital LP increased its holdings in Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after purchasing an additional 677 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after purchasing an additional 825 shares in the last quarter. Quarry LP increased its holdings in Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after purchasing an additional 623 shares in the last quarter. CWM LLC increased its holdings in Cinemark by 20.6% in the first quarter. CWM LLC now owns 6,548 shares of the company's stock worth $163,000 after purchasing an additional 1,118 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Cinemark in the fourth quarter worth approximately $221,000.

Cinemark Stock Performance

CNK stock traded up $0.51 during midday trading on Monday, hitting $26.13. The company's stock had a trading volume of 2,753,713 shares, compared to its average volume of 3,926,952. The stock's 50-day moving average price is $29.22 and its 200 day moving average price is $28.81. 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 1 year low of $23.12 and a 1 year high of $36.28. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.83 and a beta of 1.90.

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

Cinemark Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CNK. Deutsche Bank Aktiengesellschaft began coverage on Cinemark in a report on Thursday, July 10th. They set a "buy" rating and a $36.00 price objective for the company. B. Riley began coverage on Cinemark in a report on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. Wedbush upgraded Cinemark from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $32.00 to $37.00 in a report on Friday, July 11th. Barrington Research restated an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a report on Monday, August 4th. Finally, Benchmark restated a "buy" rating and set a $35.00 price objective on shares of Cinemark in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.67.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanda Marie Gierhart sold 52,524 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $31.85, for a total value of $1,672,889.40. Following the transaction, the insider directly owned 94,890 shares in the company, valued at $3,022,246.50. This represents a 35.63% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

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.