CIBC Private Wealth Group LLC decreased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 2.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 48,053 shares of the company’s stock after selling 992 shares during the period. CIBC Private Wealth Group LLC’s holdings in Cinemark were worth $1,922,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNK. Louisiana State Employees Retirement System lifted its stake in Cinemark by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the company’s stock worth $1,140,000 after purchasing an additional 300 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Cinemark by 1.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,334 shares of the company’s stock worth $1,693,000 after purchasing an additional 422 shares in the last quarter. Advisor Group Inc. lifted its stake in Cinemark by 10.6% in the 4th quarter. Advisor Group Inc. now owns 5,267 shares of the company’s stock worth $188,000 after purchasing an additional 506 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Cinemark by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,896 shares of the company’s stock worth $1,277,000 after purchasing an additional 530 shares in the last quarter. Finally, National Asset Management Inc. lifted its stake in Cinemark by 7.0% in the 4th quarter. National Asset Management Inc. now owns 8,437 shares of the company’s stock worth $303,000 after purchasing an additional 554 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.
In other news, insider Valmir Fernandes sold 4,033 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $43.00, for a total value of $173,419.00. Following the sale, the insider now directly owns 114,961 shares in the company, valued at approximately $4,943,323. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.00% of the company’s stock.
Cinemark stock opened at $37.98 on Thursday. Cinemark Holdings, Inc. has a twelve month low of $33.52 and a twelve month high of $43.51. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.80 and a current ratio of 0.83. The stock has a market capitalization of $4.48 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.09 and a beta of 0.83.
Cinemark (NYSE:CNK) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Cinemark had a net margin of 5.85% and a return on equity of 12.61%. The firm had revenue of $714.70 million for the quarter, compared to the consensus estimate of $688.51 million. During the same period in the previous year, the firm posted $0.53 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. On average, equities analysts forecast that Cinemark Holdings, Inc. will post 2.33 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a $0.34 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.58%. Cinemark’s dividend payout ratio (DPR) is presently 74.32%.
Several analysts have commented on CNK shares. ValuEngine cut shares of Cinemark from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Wedbush set a $46.00 price target on shares of Cinemark and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research cut shares of Cinemark from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $44.67.
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Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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