Cibc World Market Inc. Takes Position in Cinemark Holdings Inc $CNK

Cibc World Market Inc. acquired a new stake in Cinemark Holdings Inc (NYSE:CNK) during the 4th quarter, Holdings Channel.com reports. The firm acquired 206,499 shares of the company’s stock, valued at approximately $4,799,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its position in shares of Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after acquiring an additional 506 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Cinemark by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company’s stock valued at $548,000 after purchasing an additional 507 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 507 shares during the last quarter. ProShare Advisors LLC increased its stake in Cinemark by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 20,176 shares of the company’s stock valued at $469,000 after purchasing an additional 619 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Cinemark by 11.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,680 shares of the company’s stock valued at $204,000 after purchasing an additional 859 shares during the last quarter.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $31.36 on Monday. The firm has a market capitalization of $3.66 billion, a PE ratio of 27.75 and a beta of 1.00. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. The business has a 50-day moving average of $28.52 and a two-hundred day moving average of $26.39. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $32.95.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The business’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.32) earnings per share. As a group, research analysts forecast that Cinemark Holdings Inc will post 2.11 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be paid a $0.09 dividend. The ex-dividend date is Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. Cinemark’s dividend payout ratio (DPR) is 31.86%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CNK. The Goldman Sachs Group reiterated a “sell” rating and issued a $22.00 target price on shares of Cinemark in a research note on Thursday, February 19th. Benchmark reiterated a “buy” rating on shares of Cinemark in a research note on Thursday, February 19th. Zacks Research lowered Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Morgan Stanley upped their target price on Cinemark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Finally, Roth Mkm reiterated a “buy” rating and issued a $37.00 target price on shares of Cinemark in a research note on Thursday, April 23rd. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.31.

Cinemark Profile

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.