NEXT Financial Group Inc reduced its position in Cinemark Holdings, Inc. (NYSE:CNK) by 6.0% during the second quarter, Holdings Channel.com reports. The firm owned 9,360 shares of the company’s stock after selling 595 shares during the quarter. NEXT Financial Group Inc’s holdings in Cinemark were worth $337,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of CNK. Norges Bank bought a new position in shares of Cinemark in the 4th quarter worth $36,407,000. Clark Capital Management Group Inc. lifted its holdings in shares of Cinemark by 162.8% in the 1st quarter. Clark Capital Management Group Inc. now owns 1,162,491 shares of the company’s stock worth $46,488,000 after purchasing an additional 720,110 shares in the last quarter. DNB Asset Management AS bought a new position in shares of Cinemark in the 2nd quarter worth $25,830,000. Eagle Asset Management Inc. lifted its holdings in shares of Cinemark by 21.7% in the 1st quarter. Eagle Asset Management Inc. now owns 3,185,009 shares of the company’s stock worth $127,368,000 after purchasing an additional 566,923 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Cinemark by 34.6% in the 1st quarter. Wells Fargo & Company MN now owns 1,962,955 shares of the company’s stock worth $78,498,000 after purchasing an additional 504,333 shares in the last quarter. Institutional investors own 98.19% of the company’s stock.
In other Cinemark news, insider Valmir Fernandes sold 4,033 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $43.00, for a total transaction of $173,419.00. Following the transaction, the insider now directly owns 114,961 shares in the company, valued at approximately $4,943,323. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.00% of the stock is currently owned by company insiders.
A number of equities analysts recently issued reports on CNK shares. ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. MKM Partners cut their target price on Cinemark to $43.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Loop Capital restated a “hold” rating on shares of AMC Entertainment in a research note on Wednesday, July 3rd. Wedbush set a $13.00 price objective on SLM and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Morgan Stanley dropped their price objective on Cinemark from $41.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $44.00.
NYSE:CNK traded up $0.34 during trading hours on Tuesday, hitting $37.28. 810,699 shares of the company traded hands, compared to its average volume of 1,146,903. 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 business’s 50-day simple moving average is $37.31. Cinemark Holdings, Inc. has a one year low of $34.03 and a one year high of $43.51. The firm has a market cap of $4.33 billion, a P/E ratio of 20.37, a PEG ratio of 1.07 and a beta of 0.73.
Cinemark (NYSE:CNK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. Cinemark had a return on equity of 12.61% and a net margin of 5.85%. The business had revenue of $714.70 million for the quarter, compared to analysts’ expectations of $688.51 million. During the same period last year, the business earned $0.53 EPS. The business’s revenue was down 8.4% on a year-over-year basis. On average, analysts forecast that Cinemark Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, June 7th. Cinemark’s dividend payout ratio (DPR) is presently 74.32%.
Cinemark Company Profile
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.
Further Reading: Quiet Period
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