Public Employees Retirement System of Ohio lowered its position in Cinemark Holdings, Inc. (NYSE:CNK) by 23.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,033 shares of the company’s stock after selling 11,893 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Cinemark were worth $1,369,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bruderman Asset Management LLC grew its holdings in shares of Cinemark by 76.6% in the second quarter. Bruderman Asset Management LLC now owns 4,000 shares of the company’s stock valued at $140,000 after purchasing an additional 1,735 shares during the period. Itau Unibanco Holding S.A. grew its holdings in shares of Cinemark by 413.6% in the second quarter. Itau Unibanco Holding S.A. now owns 6,898 shares of the company’s stock valued at $242,000 after purchasing an additional 5,555 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Cinemark in the second quarter valued at about $266,000. Point72 Hong Kong Ltd grew its holdings in shares of Cinemark by 453.8% in the second quarter. Point72 Hong Kong Ltd now owns 7,880 shares of the company’s stock valued at $276,000 after purchasing an additional 6,457 shares during the period. Finally, New England Asset Management Inc. purchased a new stake in shares of Cinemark in the second quarter valued at about $338,000. 99.60% of the stock is owned by hedge funds and other institutional investors.
CNK has been the subject of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Cinemark from $42.00 to $39.00 and set a “$34.56” rating for the company in a report on Monday, July 23rd. Wedbush set a $43.00 target price on shares of Cinemark and gave the company a “buy” rating in a research report on Wednesday, August 8th. B. Riley reaffirmed a “buy” rating on shares of Cinemark in a research report on Monday, August 6th. Zacks Investment Research raised shares of Cinemark from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Wednesday, July 11th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $47.00 target price on shares of Cinemark in a research report on Monday, August 13th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $42.75.
NYSE CNK opened at $39.90 on Friday. 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. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.35 and a beta of 0.95.
Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, August 8th. The company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). Cinemark had a net margin of 8.86% and a return on equity of 19.49%. The company had revenue of $889.05 million during the quarter, compared to analyst estimates of $897.68 million. During the same period in the previous year, the company earned $0.44 EPS. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, analysts predict that Cinemark Holdings, Inc. will post 1.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th were given a $0.32 dividend. The ex-dividend date was Friday, August 31st. This represents a $1.28 dividend on an annualized basis and a yield of 3.21%. Cinemark’s payout ratio is currently 56.64%.
Cinemark Company Profile
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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