State of New Jersey Common Pension Fund D Invests $1.66 Million in Cinemark Holdings Inc $CNK

State of New Jersey Common Pension Fund D acquired a new position in Cinemark Holdings Inc (NYSE:CNK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 71,466 shares of the company’s stock, valued at approximately $1,661,000.

Several other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Cinemark during the 3rd quarter valued at approximately $63,000. Smartleaf Asset Management LLC raised its holdings in shares of Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after buying an additional 506 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Cinemark by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after buying an additional 1,372 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in shares of Cinemark in the 4th quarter valued at $121,000.

Cinemark Stock Performance

NYSE CNK opened at $27.05 on Monday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 23.94 and a beta of 1.03. The stock has a 50-day moving average of $28.31 and a 200 day moving average of $26.43. 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 Holdings Inc has a twelve month low of $21.60 and a twelve month high of $34.01.

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

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cinemark’s payout ratio is presently 31.86%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CNK shares. JPMorgan Chase & Co. boosted their price target on Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Cinemark in a report on Monday, May 4th. Wells Fargo & Company increased their price objective on shares of Cinemark from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Zacks Research upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, UBS Group raised Cinemark to a “buy” rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.31.

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.