Corient Private Wealth LP acquired a new stake in Cinemark Holdings Inc (NYSE:CNK – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 35,274 shares of the company’s stock, valued at approximately $1,119,000.
Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 507 shares during the period. Leonteq Securities AG purchased a new position in shares of Cinemark during the 4th quarter valued at $83,000. Kestra Advisory Services LLC bought a new stake in shares of Cinemark in the fourth quarter valued at approximately $102,000. KBC Group NV lifted its stake in shares of Cinemark by 56.9% during the 1st quarter. KBC Group NV now owns 4,334 shares of the company’s stock valued at $124,000 after buying an additional 1,572 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Cinemark by 48.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock valued at $158,000 after buying an additional 1,696 shares in the last quarter.
Cinemark Trading Up 0.2%
Shares of Cinemark stock opened at $35.06 on Friday. The firm’s 50 day simple moving average is $34.28 and its two-hundred day simple moving average is $30.69. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 20.75 and a beta of 0.98. Cinemark Holdings Inc has a 12-month low of $21.60 and a 12-month high of $38.98. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87.
Cinemark Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Cinemark’s payout ratio is presently 21.30%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on CNK shares. Wedbush increased their target price on shares of Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Guggenheim set a $37.00 price target on shares of Cinemark in a research report on Thursday, July 2nd. Moffett Nathanson reaffirmed a “buy” rating and issued a $40.00 price target on shares of Cinemark in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Cinemark from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Finally, Zacks Research downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.93.
Get Our Latest Stock Analysis on Cinemark
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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