South Dakota Investment Council Sells 18,800 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

South Dakota Investment Council lowered its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 24.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 57,635 shares of the company’s stock after selling 18,800 shares during the period. South Dakota Investment Council’s holdings in Cinemark were worth $1,786,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Maverick Capital Ltd. boosted its stake in shares of Cinemark by 1,356.4% in the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after buying an additional 1,413,557 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Cinemark by 1,532.5% in the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock valued at $18,102,000 after acquiring an additional 610,398 shares during the period. Assenagon Asset Management S.A. purchased a new position in Cinemark in the third quarter worth about $12,133,000. Hennessy Advisors Inc. grew its stake in shares of Cinemark by 13.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after purchasing an additional 241,600 shares during the period. Finally, Castellan Group purchased a new stake in shares of Cinemark during the 3rd quarter valued at about $6,130,000.

Cinemark Stock Down 1.1 %

NYSE CNK opened at $27.47 on Monday. Cinemark Holdings, Inc. has a 12 month low of $15.74 and a 12 month high of $36.28. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The stock has a market cap of $3.36 billion, a PE ratio of 13.53 and a beta of 2.38. The stock’s 50 day moving average is $30.24 and its 200 day moving average is $29.82.

Cinemark (NYSE:CNK) last issued its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. Cinemark’s revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) EPS. Research analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently announced a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is 15.76%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barrington Research restated an “outperform” rating and set a $40.00 target price on shares of Cinemark in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday. Benchmark lowered their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley reduced their price target on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cinemark has an average rating of “Moderate Buy” and a consensus price target of $32.70.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.