Northwestern Mutual Wealth Management Co. Boosts Stock Holdings in Cinemark Holdings Inc $CNK

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 5,472,594.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,039,812 shares of the company’s stock after acquiring an additional 1,039,793 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.89% of Cinemark worth $24,165,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CNK. Woodline Partners LP purchased a new position in shares of Cinemark in the 3rd quarter worth $33,390,000. Man Group plc purchased a new position in shares of Cinemark in the 2nd quarter worth $33,953,000. SG Americas Securities LLC grew its stake in shares of Cinemark by 102.4% in the 3rd quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $680,000 after buying an additional 1,023,333 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Cinemark by 1,425.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,082,389 shares of the company’s stock worth $30,329,000 after buying an additional 1,011,412 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of Cinemark in the 3rd quarter worth $25,509,000.

Analysts Set New Price Targets

A number of research firms recently commented on CNK. Moffett Nathanson raised shares of Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, January 20th. Roth Mkm reaffirmed a “buy” rating and set a $37.00 price target on shares of Cinemark in a research note on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a “sell” rating and set a $22.00 price target on shares of Cinemark in a research note on Thursday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Morgan Stanley lifted their price target on shares of Cinemark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.31.

Cinemark Price Performance

CNK stock opened at $26.22 on Wednesday. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $34.01. The company has a 50-day moving average price of $28.09 and a 200 day moving average price of $26.41. The stock has a market cap of $3.06 billion, a PE ratio of 23.20 and a beta of 1.03. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The company had revenue of $643.10 million for the quarter, compared to the consensus estimate of $632.74 million. During the same quarter in the previous year, the business earned ($0.32) EPS. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. Equities research analysts anticipate that Cinemark Holdings Inc will post 2.11 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. Cinemark’s dividend payout ratio (DPR) is presently 31.86%.

Cinemark Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.