Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cinemark Holdings Inc (NYSE:CNK – Free Report) by 5,472,594.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,039,812 shares of the company’s stock after purchasing an additional 1,039,793 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cinemark were worth $24,165,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNK. Intech Investment Management LLC raised its holdings in shares of Cinemark by 129.0% in the 3rd quarter. Intech Investment Management LLC now owns 156,602 shares of the company’s stock valued at $4,388,000 after purchasing an additional 88,203 shares in the last quarter. Jain Global LLC raised its holdings in shares of Cinemark by 37.4% in the 3rd quarter. Jain Global LLC now owns 1,644,623 shares of the company’s stock valued at $46,082,000 after purchasing an additional 447,468 shares in the last quarter. Gabelli Funds LLC bought a new stake in shares of Cinemark in the 3rd quarter valued at about $1,444,000. Cartenna Capital LP raised its holdings in shares of Cinemark by 29.4% in the 3rd quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock valued at $46,233,000 after purchasing an additional 375,000 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of Cinemark in the 3rd quarter valued at about $25,509,000.
Analyst Upgrades and Downgrades
CNK has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on shares of Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Wall Street Zen upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. boosted their price target on shares of Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Barrington Research restated an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a report on Monday, May 4th. Finally, Roth Mkm restated a “buy” rating and issued a $37.00 price target on shares of Cinemark in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.31.
Cinemark Stock Down 2.3%
NYSE:CNK opened at $26.22 on Wednesday. The company has a market cap of $3.06 billion, a PE ratio of 23.20 and a beta of 1.03. Cinemark Holdings Inc has a twelve month low of $21.60 and a twelve month high of $34.01. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. The company’s 50 day moving average is $28.09 and its two-hundred day moving average is $26.41.
Cinemark (NYSE:CNK – Get Free Report) last released its earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $643.10 million for the quarter, compared to analysts’ expectations of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.32) EPS. Analysts anticipate that Cinemark Holdings Inc will post 2.11 EPS for the current year.
Cinemark Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, May 28th. Cinemark’s dividend payout ratio is 31.86%.
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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