Strs Ohio Reduces Stock Position in Cinemark Holdings Inc $CNK

Strs Ohio lessened its holdings in Cinemark Holdings Inc (NYSE:CNK) by 73.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,700 shares of the company’s stock after selling 96,000 shares during the quarter. Strs Ohio’s holdings in Cinemark were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Cinemark by 28.9% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 135,142 shares of the company’s stock valued at $3,787,000 after purchasing an additional 30,264 shares during the period. Amalgamated Bank lifted its holdings in Cinemark by 1.7% during the 3rd quarter. Amalgamated Bank now owns 29,626 shares of the company’s stock valued at $830,000 after buying an additional 488 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Cinemark during the 3rd quarter valued at about $63,000. SG Americas Securities LLC boosted its position in Cinemark by 102.4% in the 3rd quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $680,000 after buying an additional 1,023,333 shares during the period. Finally, Financial Consulate Inc. bought a new position in Cinemark in the 3rd quarter worth about $50,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Moffett Nathanson upgraded Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, January 20th. Roth Mkm reaffirmed a “buy” rating and set a $35.00 target price on shares of Cinemark in a research report on Wednesday, November 5th. Benchmark reissued a “buy” rating on shares of Cinemark in a research report on Thursday, January 15th. Finally, B. Riley decreased their price objective on Cinemark from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.83.

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 22,082 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total value of $547,854.42. Following the sale, the executive vice president directly owned 167,360 shares in the company, valued at approximately $4,152,201.60. This trade represents a 11.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Cinemark Stock Up 1.8%

Cinemark stock opened at $23.54 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 5.01. The firm has a market cap of $2.77 billion, a P/E ratio of 22.64, a P/E/G ratio of 2.29 and a beta of 1.10. The business has a fifty day moving average of $24.18 and a two-hundred day moving average of $26.28. Cinemark Holdings Inc has a twelve month low of $21.60 and a twelve month high of $34.01.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The company had revenue of $857.50 million during the quarter, compared to the consensus estimate of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The company’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. On average, analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.09 dividend. This is a boost from Cinemark’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, November 28th. Cinemark’s dividend payout ratio is presently 34.62%.

About Cinemark

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.