Intech Investment Management LLC Grows Stock Position in Cinemark Holdings Inc $CNK

Intech Investment Management LLC raised its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 52.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 94,133 shares of the company’s stock after buying an additional 32,190 shares during the period. Intech Investment Management LLC owned about 0.08% of Cinemark worth $2,343,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Cinemark by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 681,435 shares of the company’s stock valued at $16,961,000 after buying an additional 18,645 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Cinemark by 104.8% during the 1st quarter. GHP Investment Advisors Inc. now owns 28,365 shares of the company’s stock valued at $706,000 after buying an additional 14,518 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cinemark by 1,677.9% during the 1st quarter. GAMMA Investing LLC now owns 52,020 shares of the company’s stock valued at $1,295,000 after buying an additional 49,094 shares during the last quarter. Dark Forest Capital Management LP raised its stake in shares of Cinemark by 2,933.6% during the 1st quarter. Dark Forest Capital Management LP now owns 240,749 shares of the company’s stock valued at $5,992,000 after buying an additional 232,813 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Cinemark during the 1st quarter valued at about $2,081,000.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the transaction, the executive vice president owned 203,768 shares of the company’s stock, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CNK shares. Benchmark restated a “buy” rating and set a $35.00 target price on shares of Cinemark in a research report on Wednesday, July 2nd. Barrington Research restated an “outperform” rating and set a $36.00 target price on shares of Cinemark in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft started coverage on Cinemark in a research report on Thursday, July 10th. They set a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and set a $33.00 target price (down from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Finally, Roth Capital dropped their target price on Cinemark from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

Cinemark Trading Up 1.0%

CNK opened at $28.54 on Tuesday. Cinemark Holdings Inc has a one year low of $23.12 and a one year high of $36.28. The stock has a market capitalization of $3.28 billion, a PE ratio of 15.59, a P/E/G ratio of 2.02 and a beta of 1.85. The business’s 50 day moving average price is $27.25 and its 200 day moving average price is $28.36. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.15). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The business had revenue of $940.50 million during the quarter, compared to analyst estimates of $942.14 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s revenue was up 28.1% on a year-over-year basis. As a group, equities research analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 27th. Cinemark’s dividend payout ratio is 17.49%.

Cinemark Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.