State of New Jersey Common Pension Fund D Has $1.75 Million Stock Holdings in Cinemark Holdings Inc $CNK

State of New Jersey Common Pension Fund D reduced its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 18.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,059 shares of the company’s stock after selling 13,563 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Cinemark worth $1,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CNK. Russell Investments Group Ltd. boosted its stake in 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 buying an additional 2,502 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Cinemark by 66.2% during the second quarter. GAMMA Investing LLC now owns 3,474 shares of the company’s stock valued at $105,000 after purchasing an additional 1,384 shares in the last quarter. CWM LLC boosted its stake in shares of Cinemark by 20.6% during 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 in the last quarter. Praxis Investment Management Inc. bought a new stake in shares of Cinemark during the second quarter worth about $200,000. Finally, Twin Tree Management LP increased its stake in shares of Cinemark by 2,790.7% in the first quarter. Twin Tree Management LP now owns 8,354 shares of the company’s stock valued at $208,000 after buying an additional 8,065 shares during the period.

Analyst Ratings Changes

CNK has been the topic of a number of research reports. Roth Capital reduced their target price 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Cinemark in a report on Thursday, July 10th. They set a “buy” rating and a $36.00 price target on the stock. Wall Street Zen upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Morgan Stanley cut their target price on Cinemark from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cinemark in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.30.

Insider Activity

In other news, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 3.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.10% of the company’s stock.

Cinemark Stock Performance

Shares of CNK opened at $27.08 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. The firm’s fifty day simple moving average is $26.98 and its two-hundred day simple moving average is $28.81. Cinemark Holdings Inc has a 12 month low of $23.12 and a 12 month high of $36.28. The stock has a market capitalization of $3.12 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 1.96 and a beta of 1.75.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share (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 period in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were paid a $0.08 dividend. 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 payout ratio is 17.49%.

Cinemark Company 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.