Teacher Retirement System of Texas lifted its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 321.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,296 shares of the company’s stock after purchasing an additional 27,684 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cinemark were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of the company. Cable Hill Partners LLC lifted its position in Cinemark by 3,300.0% during the third quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock valued at $107,000 after purchasing an additional 2,871 shares during the period. Cerebellum GP LLC acquired a new position in Cinemark during the fourth quarter valued at $118,000. Ffcm LLC acquired a new position in Cinemark during the third quarter valued at $125,000. Zions Bancorporation acquired a new position in Cinemark during the third quarter valued at $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cinemark by 54.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,862 shares of the company’s stock valued at $204,000 after purchasing an additional 2,070 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.
A number of research analysts recently issued reports on CNK shares. Zacks Investment Research upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Wedbush set a $42.00 target price on shares of Cinemark and gave the company a “buy” rating in a research report on Tuesday, December 5th. B. Riley restated a “buy” rating and set a $47.00 target price on shares of Cinemark in a research report on Tuesday, December 5th. Royal Bank of Canada upgraded shares of Cinemark from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $33.91 to $40.00 in a research report on Wednesday, January 10th. Finally, MKM Partners decreased their target price on shares of Cinemark to $44.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $42.25.
Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.35. The business had revenue of $750.00 million during the quarter, compared to the consensus estimate of $745.92 million. Cinemark had a net margin of 8.83% and a return on equity of 19.48%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. sell-side analysts expect that Cinemark Holdings, Inc. will post 2.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from Cinemark’s previous quarterly dividend of $0.29. Cinemark’s dividend payout ratio is 51.10%.
In other news, EVP Tom Owens sold 9,213 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $36.00, for a total transaction of $331,668.00. Following the completion of the sale, the executive vice president now owns 42,722 shares of the company’s stock, valued at $1,537,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lee Roy Mitchell sold 174,607 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $36.72, for a total transaction of $6,411,569.04. Following the sale, the director now directly owns 5,528,843 shares of the company’s stock, valued at approximately $203,019,114.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 483,820 shares of company stock valued at $17,672,093. Insiders own 9.20% of the company’s stock.
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Cinemark Company Profile
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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