Mutual of America Capital Management LLC Has $391,000 Stake in Cinemark Holdings Inc $CNK

Mutual of America Capital Management LLC trimmed its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 16.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,967 shares of the company’s stock after selling 2,584 shares during the period. Mutual of America Capital Management LLC’s holdings in Cinemark were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Cinemark by 66.2% during the second quarter. GAMMA Investing LLC now owns 3,474 shares of the company’s stock worth $105,000 after buying an additional 1,384 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Cinemark by 242.9% in the first quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company’s stock valued at $88,000 after purchasing an additional 2,502 shares during the last quarter. CWM LLC increased its holdings in shares of Cinemark by 20.6% in the first quarter. CWM LLC now owns 6,548 shares of the company’s stock valued at $163,000 after purchasing an additional 1,118 shares during the last quarter. Praxis Investment Management Inc. acquired a new position in shares of Cinemark in the second quarter valued at $200,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Cinemark in the second quarter valued at $247,000.

Analysts Set New Price Targets

Several research firms have commented on CNK. Roth Capital decreased their price objective on shares of Cinemark from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Wedbush upgraded shares of Cinemark from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $32.00 to $37.00 in a report on Friday, July 11th. Morgan Stanley reduced their target price on shares of Cinemark from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Finally, Benchmark reissued a “buy” rating and issued a $35.00 target price on shares of Cinemark in a research report on Wednesday, July 2nd. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.30.

Cinemark Trading Down 1.3%

CNK opened at $26.68 on Wednesday. Cinemark Holdings Inc has a twelve month low of $23.12 and a twelve month high of $36.28. The company has a 50-day simple moving average of $26.96 and a 200 day simple moving average of $28.83. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.93 and a beta of 1.75.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The firm had revenue of $940.50 million for the quarter, compared to the consensus estimate of $942.14 million. During the same period in the prior year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. Analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 27th. This represents a $0.32 annualized dividend and a yield of 1.2%. Cinemark’s dividend payout ratio is currently 17.49%.

Insiders Place Their Bets

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

About Cinemark

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.