Strs Ohio Buys Shares of 157,500 Cinemark Holdings Inc $CNK

Key Points

• Strs Ohio acquired 157,500 shares of Cinemark Holdings Inc for approximately $3.92 million, representing about 0.14% ownership of the company.
• Multiple institutional investors have significantly increased their stakes in Cinemark, with some reporting increases over 200% in share ownership.
• Cinemark recently announced a $0.08 quarterly dividend per share, reflecting an annualized yield of 1.1% and a payout ratio of 17.49%.

Strs Ohio bought a new stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 157,500 shares of the company's stock, valued at approximately $3,920,000. Strs Ohio owned approximately 0.14% of Cinemark at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CNK. Elequin Capital LP grew its position in Cinemark by 211.6% in the 4th 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. Russell Investments Group Ltd. grew its position in Cinemark by 242.9% in the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company's stock valued at $88,000 after acquiring an additional 2,502 shares in the last quarter. CWM LLC boosted its stake in shares of Cinemark by 20.6% in the 1st quarter. CWM LLC now owns 6,548 shares of the company's stock valued at $163,000 after buying an additional 1,118 shares during the period. Twin Tree Management LP boosted its stake in shares of Cinemark by 2,790.7% in the 1st quarter. Twin Tree Management LP now owns 8,354 shares of the company's stock valued at $208,000 after buying an additional 8,065 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in shares of Cinemark in the 4th quarter valued at about $221,000.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president owned 203,768 shares of the company's stock, valued at $5,128,840.56. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CNK. Roth Capital decreased their price objective on Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Barrington Research reiterated an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a research note on Monday, August 4th. Benchmark reiterated a "buy" rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. Wall Street Zen upgraded Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Wedbush upgraded Cinemark from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.67.

Cinemark Trading Up 0.3%

NYSE:CNK opened at $28.26 on Monday. The firm has a market cap of $3.25 billion, a P/E ratio of 15.44, a PEG ratio of 2.02 and a beta of 1.85. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. The stock's 50 day simple moving average is $27.27 and its 200-day simple moving average is $28.34. Cinemark Holdings Inc has a 12-month low of $23.12 and a 12-month high of $36.28.

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 analysts' consensus estimates of $0.78 by ($0.15). The business had revenue of $940.50 million for the quarter, compared to analyst estimates of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The company's revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. Equities analysts anticipate that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. Cinemark's dividend payout ratio (DPR) is presently 17.49%.

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.

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