South Dakota Investment Council Decreases Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

South Dakota Investment Council lowered its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 24.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,635 shares of the company’s stock after selling 18,800 shares during the period. South Dakota Investment Council’s holdings in Cinemark were worth $1,786,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares during the period. Creative Planning raised its stake in shares of Cinemark by 74.8% in the third quarter. Creative Planning now owns 20,907 shares of the company’s stock valued at $582,000 after acquiring an additional 8,946 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Cinemark in the 3rd quarter worth about $9,530,000. Assenagon Asset Management S.A. purchased a new position in shares of Cinemark during the 3rd quarter worth about $12,133,000. Finally, Principal Financial Group Inc. grew its holdings in Cinemark by 18.8% during the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after purchasing an additional 99,843 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CNK shares. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Macquarie reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Cinemark in a research report on Thursday. Benchmark decreased their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley lowered their target price on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and an average target price of $32.70.

Cinemark Stock Down 1.1 %

Shares of Cinemark stock opened at $27.47 on Monday. Cinemark Holdings, Inc. has a 1 year low of $15.74 and a 1 year high of $36.28. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 13.53 and a beta of 2.38. The firm’s 50-day moving average is $30.24 and its two-hundred day moving average is $29.82.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) earnings per share. As a group, research analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is currently 15.76%.

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.