Los Angeles Capital Management & Equity Research Inc. cut its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 62.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,942 shares of the company’s stock after selling 93,186 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Cinemark were worth $1,860,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its stake in shares of Cinemark by 2,537.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 976 shares of the company’s stock valued at $33,000 after acquiring an additional 939 shares during the period. Lido Advisors LLC grew its stake in shares of Cinemark by 18.5% during the 4th quarter. Lido Advisors LLC now owns 6,476 shares of the company’s stock valued at $219,000 after acquiring an additional 1,012 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Cinemark by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 31,056 shares of the company’s stock valued at $1,052,000 after acquiring an additional 1,002 shares during the period. Victory Capital Management Inc. grew its stake in shares of Cinemark by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 6,424,421 shares of the company’s stock valued at $217,467,000 after acquiring an additional 43,203 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Cinemark by 41.9% during the 4th quarter. Sei Investments Co. now owns 152,522 shares of the company’s stock valued at $5,189,000 after acquiring an additional 45,056 shares during the period. Institutional investors own 99.89% of the company’s stock.
CNK stock opened at $28.69 on Tuesday. Cinemark Holdings, Inc. has a 1-year low of $28.10 and a 1-year high of $43.51. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.27 and a quick ratio of 0.90. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 0.95 and a beta of 0.68. The business has a 50 day simple moving average of $31.62 and a two-hundred day simple moving average of $35.16.
Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.23). Cinemark had a return on equity of 14.74% and a net margin of 5.83%. The business had revenue of $788.80 million during the quarter, compared to the consensus estimate of $799.87 million. During the same quarter in the previous year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Cinemark Holdings, Inc. will post 2.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.02%. This is an increase from Cinemark’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, March 5th. Cinemark’s dividend payout ratio is presently 83.44%.
A number of research analysts recently issued reports on CNK shares. TheStreet downgraded Cinemark from a “b-” rating to a “c+” rating in a research note on Wednesday, November 6th. Zacks Investment Research upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Loop Capital cut their price objective on Cinemark to $42.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Barrington Research reiterated a “buy” rating and set a $49.00 price objective on shares of Cinemark in a research note on Friday. Finally, Wedbush cut their price objective on Cinemark from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $40.58.
About Cinemark
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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