M&T Bank Corp boosted its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 13.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,145 shares of the company’s stock after acquiring an additional 1,444 shares during the quarter. M&T Bank Corp’s holdings in Cinemark were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its position in Cinemark by 2.8% during the 1st quarter. BlackRock Inc. now owns 12,654,650 shares of the company’s stock valued at $506,061,000 after purchasing an additional 340,563 shares during the last quarter. FMR LLC raised its position in shares of Cinemark by 5.7% in the 1st quarter. FMR LLC now owns 9,183,881 shares of the company’s stock worth $367,263,000 after acquiring an additional 494,773 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Cinemark by 3.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,709,992 shares of the company’s stock worth $130,703,000 after acquiring an additional 114,780 shares in the last quarter. Eagle Asset Management Inc. increased its position in Cinemark by 6.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,395,717 shares of the company’s stock valued at $122,585,000 after buying an additional 210,708 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Cinemark by 1.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,357,646 shares of the company’s stock valued at $94,283,000 after buying an additional 23,515 shares in the last quarter. Institutional investors own 99.84% of the company’s stock.
A number of research analysts recently weighed in on the company. Morgan Stanley reduced their price objective on Cinemark from $41.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 23rd. MKM Partners reduced their price objective on Cinemark from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Loop Capital raised Cinemark from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, July 3rd. Credit Suisse Group assumed coverage on Cinemark in a report on Friday, July 19th. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, Wedbush reaffirmed a “buy” rating and issued a $49.00 target price on shares of Cinemark in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $44.00.
In related news, CFO Sean Gamble sold 5,669 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $41.50, for a total value of $235,263.50. Following the completion of the sale, the chief financial officer now owns 126,025 shares in the company, valued at $5,230,037.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.00% of the stock is currently owned by insiders.
Shares of NYSE:CNK opened at $38.35 on Friday. Cinemark Holdings, Inc. has a 1 year low of $34.49 and a 1 year high of $43.51. The business has a 50 day simple moving average of $38.26 and a two-hundred day simple moving average of $39.00. The firm has a market capitalization of $4.51 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.10 and a beta of 0.70. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.92.
Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $957.76 million during the quarter, compared to analyst estimates of $906.57 million. Cinemark had a return on equity of 13.75% and a net margin of 6.31%. Equities research analysts expect that Cinemark Holdings, Inc. will post 2.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.55%. Cinemark’s payout ratio is 74.32%.
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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