Easterly Investment Partners LLC lessened its holdings in Cinemark Holdings Inc (NYSE:CNK – Free Report) by 5.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 31,908 shares of the company’s stock after selling 1,718 shares during the period. Easterly Investment Partners LLC’s holdings in Cinemark were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in CNK. GHP Investment Advisors Inc. lifted its stake in shares of Cinemark by 104.8% in the 1st quarter. GHP Investment Advisors Inc. now owns 28,365 shares of the company’s stock worth $706,000 after purchasing an additional 14,518 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Cinemark by 2.5% in the 1st quarter. New York State Teachers Retirement System now owns 101,388 shares of the company’s stock worth $2,524,000 after purchasing an additional 2,450 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Cinemark in the 1st quarter worth approximately $401,000. Principal Financial Group Inc. lifted its stake in shares of Cinemark by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 681,435 shares of the company’s stock worth $16,961,000 after purchasing an additional 18,645 shares during the period. Finally, Alps Advisors Inc. bought a new position in shares of Cinemark in the 1st quarter worth approximately $359,000.
Insider Transactions at Cinemark
In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the sale, the executive vice president directly owned 203,768 shares of the company’s stock, valued at $5,128,840.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by company insiders.
Cinemark Trading Down 0.2%
Cinemark (NYSE:CNK – Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.15). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The company had revenue of $940.50 million for the quarter, compared to analysts’ expectations of $942.14 million. During the same period last year, the business earned $0.32 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.
Cinemark Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 27th. Cinemark’s dividend payout ratio (DPR) is 17.49%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Roth Capital decreased their target price on shares of Cinemark from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Wells Fargo & Company restated an “overweight” rating and set a $33.00 target price (down previously from $36.00) on shares of Cinemark in a research note on Monday, August 4th. Barrington Research restated an “outperform” rating and set a $36.00 target price on shares of Cinemark in a research note on Tuesday, September 23rd. Finally, Wedbush upgraded shares of Cinemark from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $32.00 to $37.00 in a research note on Friday, July 11th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cinemark currently has an average rating of “Moderate Buy” and a consensus price target of $35.40.
View Our Latest Stock Report on Cinemark
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.
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