William Blair Investment Management LLC reduced its position in Cinemark Holdings, Inc. (NYSE:CNK) by 28.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,846 shares of the company’s stock after selling 102,178 shares during the quarter. William Blair Investment Management LLC owned 0.21% of Cinemark worth $8,525,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its holdings in Cinemark by 1,139.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 756 shares of the company’s stock worth $26,000 after purchasing an additional 695 shares in the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in shares of Cinemark during the 4th quarter worth approximately $28,000. Citizens Financial Group Inc RI lifted its position in Cinemark by 149.4% during the fourth quarter. Citizens Financial Group Inc RI now owns 868 shares of the company’s stock valued at $29,000 after acquiring an additional 520 shares during the last quarter. Huntington National Bank lifted its position in Cinemark by 314.2% during the fourth quarter. Huntington National Bank now owns 936 shares of the company’s stock valued at $32,000 after acquiring an additional 710 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Cinemark by 2,537.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 976 shares of the company’s stock valued at $33,000 after acquiring an additional 939 shares during the last quarter. 99.89% of the stock is owned by institutional investors.
Cinemark stock traded down $4.52 during trading on Thursday, reaching $14.97. The company had a trading volume of 512,397 shares, compared to its average volume of 3,604,675. Cinemark Holdings, Inc. has a 12-month low of $19.37 and a 12-month high of $43.51. The stock’s 50 day moving average price is $29.30 and its two-hundred day moving average price is $34.12. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.18 and a beta of 0.78. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.90.
Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.23). The company had revenue of $788.80 million for the quarter, compared to analysts’ expectations of $799.87 million. Cinemark had a return on equity of 14.74% and a net margin of 5.83%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. As a group, research analysts expect that Cinemark Holdings, Inc. will post 1.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 9.62%. This is a boost from Cinemark’s previous quarterly dividend of $0.34. Cinemark’s payout ratio is presently 88.34%.
In related news, Director Lee Roy Mitchell bought 74,800 shares of the stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average price of $25.87 per share, for a total transaction of $1,935,076.00. Also, CEO Mark Zoradi bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average price of $25.87 per share, for a total transaction of $517,400.00. 9.00% of the stock is currently owned by insiders.
Several equities analysts have issued reports on CNK shares. Morgan Stanley cut their price target on shares of Cinemark from $34.00 to $33.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Imperial Capital lowered their price objective on Cinemark from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Wedbush dropped their target price on Cinemark from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Barrington Research reaffirmed a “buy” rating and set a $49.00 target price on shares of Cinemark in a research report on Friday, February 21st. Finally, B. Riley reduced their target price on Cinemark from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $39.67.
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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