Los Angeles Capital Management & Equity Research Inc. boosted its stake in Cinemark Holdings Inc (NYSE:CNK) by 24.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,540 shares of the company’s stock after acquiring an additional 27,640 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.12% of Cinemark Holdings worth $5,382,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cinemark Holdings by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock valued at $147,000 after acquiring an additional 330 shares during the last quarter. Vident Investment Advisory LLC purchased a new stake in Cinemark Holdings in the first quarter valued at $200,000. Advisors Asset Management Inc. lifted its position in Cinemark Holdings by 224.8% in the second quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock valued at $185,000 after acquiring an additional 3,289 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Cinemark Holdings in the first quarter valued at $213,000. Finally, Smithfield Trust Co. lifted its position in Cinemark Holdings by 1.5% in the second quarter. Smithfield Trust Co. now owns 5,730 shares of the company’s stock valued at $223,000 after acquiring an additional 87 shares during the last quarter. 90.16% of the stock is owned by hedge funds and other institutional investors.
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In other news, CEO Mark Zoradi acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average cost of $32.19 per share, for a total transaction of $160,950.00. Following the transaction, the chief executive officer now directly owns 172,456 shares in the company, valued at approximately $5,551,358.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.10% of the company’s stock.
Cinemark Holdings Inc (NYSE CNK) opened at 33.70 on Tuesday. The firm has a 50-day moving average of $35.94 and a 200-day moving average of $40.01. Cinemark Holdings Inc has a 1-year low of $32.03 and a 1-year high of $44.84. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 14.40 and a beta of 1.06.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $751.20 million for the quarter, compared to the consensus estimate of $751.72 million. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. Cinemark Holdings’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.46 EPS. On average, analysts expect that Cinemark Holdings Inc will post $2.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Thursday, August 31st will be given a $0.29 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.16 annualized dividend and a yield of 3.44%. Cinemark Holdings’s dividend payout ratio is presently 49.57%.
CNK has been the subject of a number of research reports. Credit Suisse Group cut shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $38.00 to $34.00 in a research report on Thursday, June 22nd. Zacks Investment Research cut shares of Cinemark Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. ValuEngine cut shares of Cinemark Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Moffett Nathanson cut shares of Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 price target for the company. in a research report on Monday, June 12th. Finally, Morgan Stanley reduced their price target on shares of Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating for the company in a research report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.06.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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