Teacher Retirement System of Texas Purchases New Position in Cinemark Holdings Inc (NYSE:CNK)

Teacher Retirement System of Texas acquired a new position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,100 shares of the company's stock, valued at approximately $401,000.

A number of other institutional investors have also recently bought and sold shares of CNK. New York State Teachers Retirement System raised its stake in shares of Cinemark by 2.5% during the 1st quarter. New York State Teachers Retirement System now owns 101,388 shares of the company's stock worth $2,524,000 after purchasing an additional 2,450 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Cinemark by 104.8% during the 1st quarter. GHP Investment Advisors Inc. now owns 28,365 shares of the company's stock worth $706,000 after purchasing an additional 14,518 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Cinemark by 18.8% during the 1st quarter. Ritholtz Wealth Management now owns 42,703 shares of the company's stock worth $1,063,000 after purchasing an additional 6,750 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Cinemark by 215.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,251,219 shares of the company's stock worth $31,143,000 after purchasing an additional 854,540 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Cinemark by 1,677.9% during the 1st quarter. GAMMA Investing LLC now owns 52,020 shares of the company's stock worth $1,295,000 after purchasing an additional 49,094 shares in the last quarter.

Cinemark Stock Performance

CNK traded down $0.41 during midday trading on Monday, reaching $29.81. The company's stock had a trading volume of 2,587,987 shares, compared to its average volume of 3,243,585. The stock has a market cap of $3.43 billion, a P/E ratio of 19.61, a PEG ratio of 2.44 and a beta of 1.88. The company has a fifty day simple moving average of $31.32 and a 200 day simple moving average of $29.17. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 5.53. Cinemark Holdings Inc has a twelve month low of $21.17 and a twelve month high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.32). Cinemark had a return on equity of 51.68% and a net margin of 8.17%. The firm had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. During the same quarter last year, the firm posted $0.19 EPS. The company's revenue was down 6.6% on a year-over-year basis. Research analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, May 29th. Cinemark's payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNK. B. Riley started coverage on Cinemark in a research note on Friday, May 16th. They set a "neutral" rating and a $35.00 price target for the company. Barrington Research reissued an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a research note on Monday, May 5th. Benchmark reissued a "buy" rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. Wedbush raised Cinemark from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft started 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 52,524 shares of Cinemark stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the sale, the insider owned 94,890 shares of the company's stock, valued at approximately $3,022,246.50. This trade represents a 35.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the sale, the executive vice president directly owned 210,968 shares in the company, valued at $6,630,724.24. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,724 shares of company stock valued at $2,724,435. 2.30% of the stock is owned by corporate insiders.

About Cinemark

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.