State of New Jersey Common Pension Fund D Makes New Investment in Cinemark Holdings Inc $CNK

Key Points

• State of New Jersey Common Pension Fund D initiated a new position in Cinemark, buying 71,466 shares valued at about $1.66 million in the fourth quarter.
• Other large investors have also been increasing exposure to CNK, including Intech Investment Management, Jain Global, Cartenna Capital, and Junto Capital, signaling broader institutional interest.
• Analysts are mixed but generally positive: Cinemark has a Moderate Buy consensus rating with a $33.31 target price, though Goldman Sachs still rates it a sell.

State of New Jersey Common Pension Fund D acquired a new stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,466 shares of the company's stock, valued at approximately $1,661,000. State of New Jersey Common Pension Fund D owned 0.06% of Cinemark at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CNK. Intech Investment Management LLC increased its position in Cinemark by 129.0% during the third quarter. Intech Investment Management LLC now owns 156,602 shares of the company's stock valued at $4,388,000 after acquiring an additional 88,203 shares during the last quarter. Jain Global LLC boosted its position in shares of Cinemark by 37.4% during the third quarter. Jain Global LLC now owns 1,644,623 shares of the company's stock valued at $46,082,000 after buying an additional 447,468 shares during the period. Gabelli Funds LLC bought a new stake in shares of Cinemark during the 3rd quarter worth approximately $1,444,000. Cartenna Capital LP increased its stake in Cinemark by 29.4% in the third quarter. Cartenna Capital LP now owns 1,650,000 shares of the company's stock worth $46,233,000 after purchasing an additional 375,000 shares during the period. Finally, Junto Capital Management LP purchased a new stake in shares of Cinemark during the third quarter valued at $25,509,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group upgraded shares of Cinemark to a "buy" rating in a report on Tuesday, January 20th. Barrington Research restated an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a research note on Monday, May 4th. Roth Mkm reaffirmed a "buy" rating and set a $37.00 target price on shares of Cinemark in a research report on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a "sell" rating and set a $22.00 price target on shares of Cinemark in a research note on Thursday, February 19th. Finally, Wells Fargo & Company increased their price objective on Cinemark from $32.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.31.

Cinemark Trading Down 0.0%

NYSE CNK opened at $27.05 on Monday. Cinemark Holdings Inc has a one year low of $21.60 and a one year high of $34.01. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 23.94 and a beta of 1.03. The company's 50-day simple moving average is $28.31 and its two-hundred day simple moving average is $26.43.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $643.10 million during the quarter, compared to analysts' expectations of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.Cinemark's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.32) EPS. Equities analysts forecast that Cinemark Holdings Inc will post 2.11 EPS for the current fiscal year.

Cinemark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, March 3rd. Cinemark's dividend payout ratio is 31.86%.

Cinemark Company Profile

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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