Jupiter Topco LLC purchased a new position in shares of Cinemark Holdings Inc (NYSE:CNK – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 318,593 shares of the company’s stock, valued at approximately $10,110,000. Jupiter Topco LLC owned about 0.27% of Cinemark as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in Cinemark during the 2nd quarter worth $5,565,000. Legal & General Group Plc acquired a new position in shares of Cinemark during the second quarter worth about $7,680,000. The Manufacturers Life Insurance Company purchased a new position in Cinemark during the second quarter worth about $1,659,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Cinemark in the second quarter valued at about $22,657,000. Finally, PEAK6 LLC acquired a new stake in Cinemark in the second quarter valued at about $252,000.
Wall Street Analysts Forecast Growth
CNK has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered shares of Cinemark from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $39.00 in a research report on Friday, August 14th. The Goldman Sachs Group upgraded Cinemark from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $23.00 to $30.00 in a research report on Wednesday, July 8th. Morgan Stanley set a $40.00 price target on Cinemark in a research report on Wednesday, July 29th. Moffett Nathanson reiterated a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.93.
Cinemark Trading Up 0.1%
NYSE CNK opened at $36.04 on Monday. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $38.98. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 21.33 and a beta of 1.00. The company’s fifty day moving average price is $34.10 and its two-hundred day moving average price is $30.38.
Cinemark (NYSE:CNK – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, research analysts predict that Cinemark Holdings Inc will post 2.36 earnings per share for the current fiscal year.
Cinemark Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Cinemark’s payout ratio is 21.30%.
About Cinemark
Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.
The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.
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