Wells Fargo & Company MN reduced its position in Cinemark Holdings Inc (NYSE:CNK) by 9.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,230,635 shares of the company’s stock after selling 327,815 shares during the period. Wells Fargo & Company MN owned 2.79% of Cinemark Holdings worth $125,509,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Macquarie Group Ltd. lifted its holdings in shares of Cinemark Holdings by 3.0% in the 1st quarter. Macquarie Group Ltd. now owns 1,538,047 shares of the company’s stock valued at $68,197,000 after purchasing an additional 44,210 shares during the last quarter. Soros Fund Management LLC acquired a new position in Cinemark Holdings in the 1st quarter valued at about $310,000. Mawer Investment Management Ltd. increased its position in Cinemark Holdings by 42.3% in the 1st quarter. Mawer Investment Management Ltd. now owns 3,256,308 shares of the company’s stock valued at $144,385,000 after acquiring an additional 967,579 shares during the period. Ardevora Asset Management LLP increased its position in Cinemark Holdings by 29.8% in the 2nd quarter. Ardevora Asset Management LLP now owns 885,100 shares of the company’s stock valued at $34,386,000 after acquiring an additional 203,000 shares during the period. Finally, Mason Street Advisors LLC increased its position in Cinemark Holdings by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 49,958 shares of the company’s stock valued at $2,215,000 after acquiring an additional 606 shares during the period. 90.16% of the stock is owned by institutional investors and hedge funds.
Cinemark Holdings Inc (NYSE:CNK) opened at 32.47 on Monday. Cinemark Holdings Inc has a 52-week low of $32.03 and a 52-week high of $44.84. The firm’s 50-day moving average price is $36.01 and its 200 day moving average price is $40.08. The firm has a market cap of $3.76 billion, a PE ratio of 13.88 and a beta of 1.06.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The company had revenue of $751.20 million for the quarter, compared to analyst estimates of $751.72 million. During the same quarter last year, the business earned $0.46 earnings per share. Cinemark Holdings’s revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Cinemark Holdings Inc will post $2.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Thursday, August 31st will be paid a $0.29 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.57%. Cinemark Holdings’s payout ratio is currently 49.57%.
Several equities analysts recently issued reports on CNK shares. Credit Suisse Group cut Cinemark Holdings from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $38.00 to $34.00 in a research report on Thursday, June 22nd. Zacks Investment Research cut Cinemark Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. ValuEngine cut Cinemark Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Moffett Nathanson cut Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 price target on the stock. in a research report on Monday, June 12th. Finally, Morgan Stanley dropped their price target on Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating on the stock in a research report on Thursday, July 6th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $43.06.
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In other news, CEO Mark Zoradi purchased 5,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were bought at an average price of $32.83 per share, for a total transaction of $164,150.00. Following the completion of the purchase, the chief executive officer now owns 167,456 shares of the company’s stock, valued at $5,497,580.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.10% of the stock is currently owned by company insiders.
Cinemark Holdings 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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