PNC Financial Services Group Inc. reduced its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 25.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,752 shares of the company’s stock after selling 3,253 shares during the period. PNC Financial Services Group Inc.’s holdings in Cinemark Holdings were worth $431,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. raised its position in Cinemark Holdings by 43.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,195 shares of the company’s stock worth $123,000 after buying an additional 972 shares during the period. Vident Investment Advisory LLC bought a new position in Cinemark Holdings during the first quarter worth $200,000. Welch & Forbes LLC bought a new position in Cinemark Holdings during the first quarter worth $210,000. Mckinley Capital Management LLC Delaware bought a new position in Cinemark Holdings during the first quarter worth $325,000. Finally, World Asset Management Inc raised its position in Cinemark Holdings by 15.8% in the first quarter. World Asset Management Inc now owns 7,481 shares of the company’s stock worth $332,000 after buying an additional 1,022 shares during the period. Institutional investors and hedge funds own 89.35% of the company’s stock.
Shares of Cinemark Holdings Inc (CNK) opened at 37.84 on Wednesday. Cinemark Holdings Inc has a 1-year low of $35.09 and a 1-year high of $44.84. The stock has a market capitalization of $4.38 billion, a P/E ratio of 15.97 and a beta of 1.04. The stock’s 50 day moving average price is $40.16 and its 200-day moving average price is $41.49.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $779.60 million during the quarter, compared to analysts’ expectations of $750.75 million. Cinemark Holdings had a return on equity of 21.75% and a net margin of 9.23%. Cinemark Holdings’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. Equities research analysts anticipate that Cinemark Holdings Inc will post $2.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 22nd. Investors of record on Thursday, June 8th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $1.16 annualized dividend and a yield of 3.07%. Cinemark Holdings’s payout ratio is presently 49.15%.
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A number of equities analysts recently weighed in on CNK shares. B. Riley reiterated a “buy” rating and issued a $53.50 price target on shares of Cinemark Holdings in a research report on Sunday, May 7th. MKM Partners reiterated a “buy” rating and issued a $50.00 price target (up previously from $48.00) on shares of Cinemark Holdings in a research report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) lowered Cinemark Holdings from a “conviction-buy” rating to a “buy” rating and set a $49.00 price target for the company. in a research report on Monday, April 10th. ValuEngine upgraded Cinemark Holdings from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Finally, Wunderlich lowered Cinemark Holdings from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Wednesday, March 22nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $43.57.
In related news, insider Valmir Fernandes sold 6,000 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $43.53, for a total transaction of $261,180.00. Following the sale, the insider now owns 85,505 shares in the company, valued at $3,722,032.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.10% of the company’s stock.
Cinemark Holdings Company Profile
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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