National Asset Management Inc. boosted its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 22.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,291 shares of the company’s stock after acquiring an additional 1,854 shares during the period. National Asset Management Inc.’s holdings in Cinemark were worth $413,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its holdings in Cinemark by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the company’s stock valued at $1,140,000 after acquiring an additional 300 shares during the last quarter. BB&T Corp boosted its holdings in Cinemark by 5.4% in the fourth quarter. BB&T Corp now owns 5,891 shares of the company’s stock valued at $211,000 after acquiring an additional 302 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Cinemark by 1.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 42,334 shares of the company’s stock valued at $1,693,000 after buying an additional 422 shares during the period. Eqis Capital Management Inc. lifted its stake in Cinemark by 2.2% in the fourth quarter. Eqis Capital Management Inc. now owns 20,290 shares of the company’s stock valued at $726,000 after buying an additional 429 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Cinemark by 2.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 25,300 shares of the company’s stock valued at $906,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 97.71% of the company’s stock.
Shares of CNK opened at $38.28 on Friday. Cinemark Holdings, Inc. has a 52-week low of $33.36 and a 52-week high of $43.51. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 1.13 and a beta of 0.79.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, June 7th. Cinemark’s payout ratio is 74.32%.
In other news, insider Valmir Fernandes sold 4,033 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $43.00, for a total transaction of $173,419.00. Following the transaction, the insider now directly owns 114,961 shares of the company’s stock, valued at $4,943,323. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is owned by corporate insiders.
CNK has been the topic of several recent analyst reports. Wedbush set a $46.00 price target on Cinemark and gave the company a “buy” rating in a research note on Friday, February 22nd. Loop Capital initiated coverage on Cinemark in a research note on Thursday, January 31st. They issued a “hold” rating and a $41.00 price target on the stock. ValuEngine raised Cinemark from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. Finally, Zacks Investment Research lowered Cinemark from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Cinemark presently has a consensus rating of “Buy” and an average target price of $44.67.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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