Legal & General Group Plc Buys Shares of 242,049 Cinemark Holdings Inc $CNK

Legal & General Group Plc purchased a new position in shares of Cinemark Holdings Inc (NYSE:CNK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 242,049 shares of the company’s stock, valued at approximately $7,680,000. Legal & General Group Plc owned 0.21% of Cinemark at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Maryland State Retirement & Pension System raised its holdings in shares of Cinemark by 3.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company’s stock worth $352,000 after acquiring an additional 449 shares during the period. GAMMA Investing LLC boosted its stake in Cinemark by 10.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock worth $158,000 after purchasing an additional 462 shares during the period. Gabelli Funds LLC increased its holdings in Cinemark by 0.5% during the 1st quarter. Gabelli Funds LLC now owns 101,866 shares of the company’s stock worth $2,905,000 after purchasing an additional 490 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Cinemark by 2.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company’s stock worth $548,000 after purchasing an additional 507 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Cinemark by 118.5% in the 2nd 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 period.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CNK shares. Barrington Research set a $42.00 price target on shares of Cinemark in a research note on Thursday, July 30th. Roth Capital set a $40.00 price target on shares of Cinemark in a research report on Thursday, July 30th. Wells Fargo & Company raised their price objective on Cinemark from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Wall Street Zen lowered Cinemark from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, JPMorgan Chase & Co. cut Cinemark from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $40.00 to $39.00 in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.93.

Cinemark Stock Performance

CNK opened at $34.76 on Wednesday. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The business has a fifty day simple moving average of $34.15 and a 200 day simple moving average of $30.51. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $38.98. The company has a market capitalization of $4.03 billion, a PE ratio of 20.57 and a beta of 0.98.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.16. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 EPS. Research analysts expect that Cinemark Holdings Inc will post 2.36 EPS for the current year.

Cinemark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be issued 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 yield of 1.0%. Cinemark’s payout ratio is currently 21.30%.

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.