New York State Teachers Retirement System Raises Stake in Cinemark Holdings Inc $CNK

New York State Teachers Retirement System raised its stake in Cinemark Holdings Inc (NYSE:CNK) by 0.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 102,292 shares of the company’s stock after buying an additional 904 shares during the period. New York State Teachers Retirement System’s holdings in Cinemark were worth $3,087,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Ritholtz Wealth Management raised its position in Cinemark by 38.7% in the 2nd quarter. Ritholtz Wealth Management now owns 59,230 shares of the company’s stock valued at $1,788,000 after purchasing an additional 16,527 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Cinemark by 132.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 89,160 shares of the company’s stock valued at $2,691,000 after acquiring an additional 50,839 shares during the last quarter. CWM LLC increased its holdings in shares of Cinemark by 29.2% in the 2nd quarter. CWM LLC now owns 8,458 shares of the company’s stock valued at $255,000 after acquiring an additional 1,910 shares during the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Cinemark by 11.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 34,200 shares of the company’s stock valued at $1,032,000 after acquiring an additional 3,500 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Cinemark by 3.2% in the 2nd quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock valued at $510,000 after purchasing an additional 521 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wedbush raised Cinemark from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $32.00 to $37.00 in a research report on Friday, July 11th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $33.00 price objective (down previously from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Wall Street Zen raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Zacks Research raised Cinemark from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cinemark in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.30.

Cinemark Stock Performance

Shares of CNK stock opened at $27.24 on Wednesday. Cinemark Holdings Inc has a 12-month low of $23.12 and a 12-month high of $36.28. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.91 and a beta of 1.75. The business has a 50 day simple moving average of $26.89 and a 200 day simple moving average of $28.80. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88.

Cinemark (NYSE:CNK) last issued 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 return on equity of 59.16% and a net margin of 9.13%.The business had revenue of $940.50 million during the quarter, compared to the consensus estimate of $942.14 million. During the same period last year, the company earned $0.32 earnings per share. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were paid 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 presently 17.49%.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the transaction, the executive vice president directly owned 203,768 shares of the company’s stock, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

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.