Cinemark Holdings Inc $CNK Shares Sold by Strs Ohio

Strs Ohio reduced its stake in Cinemark Holdings Inc (NYSE:CNK) by 17.0% in the 2nd quarter, Holdings Channel reports. The firm owned 130,700 shares of the company’s stock after selling 26,800 shares during the quarter. Strs Ohio’s holdings in Cinemark were worth $3,945,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Cinemark by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company’s stock valued at $232,643,000 after purchasing an additional 1,066,225 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Cinemark by 106.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company’s stock valued at $78,147,000 after purchasing an additional 1,338,153 shares in the last quarter. Royal Bank of Canada increased its holdings in Cinemark by 25.4% in the 1st quarter. Royal Bank of Canada now owns 1,614,013 shares of the company’s stock valued at $40,172,000 after purchasing an additional 326,927 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Cinemark during the first quarter valued at about $32,297,000. Finally, Principal Financial Group Inc. grew its stake in shares of Cinemark by 2.8% during the first quarter. Principal Financial Group Inc. now owns 681,435 shares of the company’s stock valued at $16,961,000 after acquiring an additional 18,645 shares in the last quarter.

Cinemark Stock Performance

Shares of CNK stock opened at $27.08 on Monday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91. Cinemark Holdings Inc has a one year low of $23.12 and a one year high of $36.28. The company’s 50-day simple moving average is $26.98 and its 200-day simple moving average is $28.81. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.96 and a beta of 1.75.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The company had revenue of $940.50 million for the quarter, compared to the consensus estimate of $942.14 million. During the same period in the previous year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. Equities analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Cinemark’s dividend payout ratio (DPR) is presently 17.49%.

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $25.17, for a total transaction of $181,224.00. Following the transaction, the executive vice president owned 203,768 shares of the company’s stock, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Cinemark from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Zacks Research upgraded Cinemark from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Roth Capital lowered their target price on Cinemark from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Wall Street Zen upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cinemark in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and an average price target of $35.30.

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.