Advisors Capital Management LLC cut its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,024 shares of the company’s stock after selling 4,924 shares during the period. Advisors Capital Management LLC’s holdings in Cinemark were worth $1,689,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of CNK. Northern Trust Corp increased its holdings in shares of Cinemark by 0.6% in the 1st quarter. Northern Trust Corp now owns 801,489 shares of the company’s stock worth $30,191,000 after buying an additional 4,622 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Cinemark by 4.5% in the 1st quarter. California Public Employees Retirement System now owns 294,260 shares of the company’s stock worth $11,085,000 after buying an additional 12,770 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cinemark by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,456,429 shares of the company’s stock worth $54,863,000 after buying an additional 51,289 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cinemark by 42.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 29,230 shares of the company’s stock worth $1,101,000 after buying an additional 8,727 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Cinemark by 34.6% in the 1st quarter. Hsbc Holdings PLC now owns 18,178 shares of the company’s stock worth $686,000 after buying an additional 4,669 shares during the last quarter. Hedge funds and other institutional investors own 99.60% of the company’s stock.
A number of analysts have recently weighed in on the stock. B. Riley restated a “buy” rating on shares of Cinemark in a report on Monday, August 6th. ValuEngine upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Barrington Research restated a “buy” rating and issued a $47.00 target price on shares of Cinemark in a report on Monday, August 13th. Wedbush set a $43.00 target price on shares of Cinemark and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, Morgan Stanley cut their price target on shares of Cinemark from $42.00 to $39.00 and set a “$34.56” rating on the stock in a report on Monday, July 23rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.75.
Shares of NYSE:CNK opened at $39.90 on Friday. The stock has a market cap of $4.70 billion, a P/E ratio of 17.58, a PEG ratio of 1.35 and a beta of 0.95. Cinemark Holdings, Inc. has a 12 month low of $32.60 and a 12 month high of $44.00. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.39 and a current ratio of 1.43.
Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, August 8th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.05). The firm had revenue of $889.05 million for the quarter, compared to the consensus estimate of $897.68 million. Cinemark had a net margin of 8.86% and a return on equity of 19.49%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, equities analysts forecast that Cinemark Holdings, Inc. will post 1.99 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.28 annualized dividend and a yield of 3.21%. Cinemark’s payout ratio is 56.64%.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of June 30, 2018, the company operated 539 theatres and 5,998 screens.
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