Louisiana State Employees Retirement System Invests $1.31 Million in Cinemark Holdings Inc $CNK

Louisiana State Employees Retirement System acquired a new stake in Cinemark Holdings Inc (NYSE:CNK) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 45,800 shares of the company’s stock, valued at approximately $1,306,000.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after buying an additional 507 shares during the period. Leonteq Securities AG purchased a new position in Cinemark in the 4th quarter valued at approximately $83,000. GAMMA Investing LLC grew its stake in shares of Cinemark by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after acquiring an additional 1,372 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Cinemark in the fourth quarter worth $102,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Cinemark during the fourth quarter worth $121,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CNK shares. Roth Mkm reiterated a “buy” rating and issued a $37.00 target price on shares of Cinemark in a report on Thursday, April 23rd. JPMorgan Chase & Co. upped their price target on Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Benchmark increased their price target on Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Guggenheim set a $37.00 price target on Cinemark in a research report on Thursday. Finally, Zacks Research cut Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Cinemark Price Performance

Shares of CNK opened at $31.53 on Friday. Cinemark Holdings Inc has a twelve month low of $21.60 and a twelve month high of $34.73. The firm’s fifty day simple moving average is $29.87 and its 200-day simple moving average is $27.29. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 27.90 and a beta of 0.98. 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 issued its earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) EPS. Equities analysts forecast that Cinemark Holdings Inc will post 2.18 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 28th. Cinemark’s payout ratio is 31.86%.

About Cinemark

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.