Public Sector Pension Investment Board Acquires 72,564 Shares of 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 increased its holdings in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 27.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 338,623 shares of the company's stock after purchasing an additional 72,564 shares during the period. Public Sector Pension Investment Board owned approximately 0.29% of Cinemark worth $8,428,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Cinemark by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 681,435 shares of the company's stock worth $16,961,000 after buying an additional 18,645 shares in the last quarter. GHP Investment Advisors Inc. grew its position in 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 acquiring an additional 14,518 shares during the period. GAMMA Investing LLC raised its stake in Cinemark by 1,677.9% during the first quarter. GAMMA Investing LLC now owns 52,020 shares of the company's stock worth $1,295,000 after acquiring an additional 49,094 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Cinemark during the first quarter valued at $2,081,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cinemark by 7.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,177 shares of the company's stock valued at $751,000 after purchasing an additional 2,199 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the transaction, the insider directly owned 130,612 shares in the company, valued at approximately $4,311,502.12. The trade was a 16.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanda Marie Gierhart sold 52,524 shares of the 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 sale, the insider owned 94,890 shares in the company, valued at $3,022,246.50. This represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,724 shares of company stock worth $2,679,363. Insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Benchmark reissued a "buy" rating and set a $35.00 price target on shares of Cinemark in a report on Wednesday, July 2nd. Wall Street Zen raised Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. JPMorgan Chase & Co. raised their price target on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft began coverage on Cinemark in a research note on Thursday, July 10th. They issued a "buy" rating and a $36.00 price objective on the stock. Finally, B. Riley started coverage on Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 target price for the company. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.67.

Cinemark Trading Up 0.9%

Shares of NYSE CNK traded up $0.2350 during mid-day trading on Tuesday, hitting $26.3250. The company's stock had a trading volume of 956,441 shares, compared to its average volume of 3,926,170. Cinemark Holdings Inc has a one year low of $23.12 and a one year high of $36.28. The company's fifty day simple moving average is $29.11 and its 200-day simple moving average is $28.79. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 1.83 and a beta of 1.90.

Cinemark (NYSE:CNK - Get Free Report) last announced 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 net margin of 9.13% and a return on equity of 59.16%. The business had revenue of $940.50 million during the quarter, compared to analyst estimates of $942.14 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company's quarterly revenue was up 28.1% on a year-over-year basis. On average, sell-side analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.2%. Cinemark's dividend payout ratio (DPR) is 17.49%.

Cinemark 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.