New York State Teachers Retirement System Has $3.09 Million Stock Position in Cinemark Holdings Inc $CNK

New York State Teachers Retirement System increased its position in shares of Cinemark Holdings Inc (NYSE:CNKFree Report) by 0.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,292 shares of the company’s stock after buying an additional 904 shares during the period. New York State Teachers Retirement System owned 0.09% of Cinemark worth $3,087,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Ritholtz Wealth Management raised its stake in Cinemark by 38.7% during the second quarter. Ritholtz Wealth Management now owns 59,230 shares of the company’s stock worth $1,788,000 after buying an additional 16,527 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Cinemark by 132.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 89,160 shares of the company’s stock worth $2,691,000 after buying an additional 50,839 shares during the last quarter. CWM LLC increased its stake in Cinemark by 29.2% in the second quarter. CWM LLC now owns 8,458 shares of the company’s stock valued at $255,000 after purchasing an additional 1,910 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in Cinemark by 11.4% in the second quarter. KLP Kapitalforvaltning AS now owns 34,200 shares of the company’s stock valued at $1,032,000 after purchasing an additional 3,500 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in Cinemark by 3.2% in the second quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock valued at $510,000 after purchasing an additional 521 shares in the last quarter.

Cinemark Stock Performance

Shares of NYSE CNK opened at $27.24 on Wednesday. The stock’s 50-day moving average is $26.89 and its 200 day moving average is $28.80. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.91 and a beta of 1.75. Cinemark Holdings Inc has a 1-year low of $23.12 and a 1-year high of $36.28. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32.

Cinemark (NYSE:CNKGet Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The business had revenue of $940.50 million for the quarter, compared to analysts’ expectations of $942.14 million. During the same period last year, the business posted $0.32 earnings per share. The company’s revenue was up 28.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, August 27th. Cinemark’s dividend payout ratio (DPR) is currently 17.49%.

Insiders Place Their Bets

In related news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the transaction, the executive vice president directly owned 203,768 shares in the company, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CNK has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cinemark in a report on Wednesday, October 8th. Morgan Stanley reduced their price objective on shares of Cinemark from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $33.00 price target (down previously from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Wall Street Zen raised Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Zacks Research raised Cinemark from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.30.

Check Out Our Latest Analysis on CNK

About Cinemark

(Free Report)

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.

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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