Jennison Associates LLC Has $154.96 Million Stake in Cinemark Holdings Inc (CNK)
Jennison Associates LLC raised its position in Cinemark Holdings Inc (NYSE:CNK) by 32.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,988,676 shares of the company’s stock after buying an additional 988,361 shares during the period. Jennison Associates LLC owned 3.45% of Cinemark Holdings worth $154,960,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in CNK. Macquarie Group Ltd. increased its position in Cinemark Holdings by 3.0% in the first quarter. Macquarie Group Ltd. now owns 1,538,047 shares of the company’s stock worth $68,197,000 after buying an additional 44,210 shares during the last quarter. Soros Fund Management LLC acquired a new position in Cinemark Holdings during the first quarter worth approximately $310,000. Mawer Investment Management Ltd. increased its position in Cinemark Holdings by 42.3% in the first quarter. Mawer Investment Management Ltd. now owns 3,256,308 shares of the company’s stock worth $144,385,000 after buying an additional 967,579 shares during the last quarter. First Midwest Bank Trust Division increased its position in Cinemark Holdings by 19.8% in the first quarter. First Midwest Bank Trust Division now owns 8,957 shares of the company’s stock worth $397,000 after buying an additional 1,480 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in Cinemark Holdings by 1.2% in the first quarter. Mason Street Advisors LLC now owns 49,958 shares of the company’s stock worth $2,215,000 after buying an additional 606 shares during the last quarter. 89.52% of the stock is owned by institutional investors.
Shares of Cinemark Holdings Inc (NYSE:CNK) opened at 34.52 on Friday. The firm has a market cap of $4.00 billion, a PE ratio of 14.75 and a beta of 1.03. The company’s 50 day moving average is $37.82 and its 200-day moving average is $40.98. Cinemark Holdings Inc has a 12 month low of $34.32 and a 12 month high of $44.84.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The business had revenue of $751.20 million during the quarter, compared to analysts’ expectations of $751.72 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. Cinemark Holdings’s revenue was up .9% compared to the same quarter last year. Equities research analysts predict that Cinemark Holdings Inc will post $2.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Thursday, August 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.16 annualized dividend and a yield of 3.36%. Cinemark Holdings’s dividend payout ratio is 49.57%.
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A number of equities analysts have recently commented on CNK shares. Credit Suisse Group downgraded shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $38.00 to $34.00 in a report on Thursday, June 22nd. Wedbush raised shares of Cinemark Holdings from a “neutral” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Wednesday, July 26th. Morgan Stanley reduced their price objective on shares of Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating for the company in a report on Thursday, July 6th. Moffett Nathanson downgraded shares of Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 price objective for the company. in a report on Monday, June 12th. Finally, Zacks Investment Research downgraded shares of Cinemark Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $43.14.
Cinemark Holdings Company Profile
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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