52,295 Shares in Cinemark Holdings Inc $CNK Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in Cinemark Holdings Inc (NYSE:CNK) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 52,295 shares of the company’s stock, valued at approximately $1,659,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNK. EverSource Wealth Advisors LLC raised its holdings in shares of Cinemark by 118.5% during 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 period. Leonteq Securities AG acquired a new position in Cinemark during the 4th quarter worth approximately $83,000. Kestra Advisory Services LLC bought a new position in Cinemark in the fourth quarter worth approximately $102,000. KBC Group NV boosted its holdings in Cinemark by 56.9% in the first quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after acquiring an additional 1,572 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Cinemark by 10.2% in the second quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock valued at $158,000 after acquiring an additional 462 shares during the period.

Cinemark Stock Performance

Shares of CNK opened at $34.98 on Friday. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84. The stock has a 50 day moving average price of $34.25 and a two-hundred day moving average price of $30.66. The firm has a market capitalization of $4.05 billion, a P/E ratio of 20.70 and a beta of 0.98. Cinemark Holdings Inc has a 52 week low of $21.60 and a 52 week high of $38.98.

Cinemark (NYSE:CNK) last posted its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. Equities analysts forecast that Cinemark Holdings Inc will post 2.36 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Cinemark’s dividend payout ratio is presently 21.30%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CNK shares. Weiss Ratings upgraded Cinemark from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Benchmark increased their target price on Cinemark from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wells Fargo & Company lifted their price target on shares of Cinemark from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Morgan Stanley set a $40.00 price target on shares of Cinemark in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. downgraded shares of Cinemark from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $39.00 in a report on Friday, August 14th. One equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

Cinemark Company 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.