Journey Strategic Wealth LLC Makes New $209,000 Investment in Cinemark Holdings Inc $CNK

Journey Strategic Wealth LLC bought a new position in Cinemark Holdings Inc (NYSE:CNK) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,939 shares of the company’s stock, valued at approximately $209,000.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in Cinemark by 242.9% in the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company’s stock worth $88,000 after purchasing an additional 2,502 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Cinemark by 66.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,474 shares of the company’s stock worth $105,000 after buying an additional 1,384 shares in the last quarter. CWM LLC boosted its stake in shares of Cinemark by 20.6% in the 1st quarter. CWM LLC now owns 6,548 shares of the company’s stock worth $163,000 after buying an additional 1,118 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Cinemark in the second quarter valued at approximately $170,000. Finally, Praxis Investment Management Inc. bought a new position in shares of Cinemark in the second quarter valued at approximately $200,000.

Cinemark Trading Down 5.3%

Shares of CNK opened at $27.92 on Tuesday. Cinemark Holdings Inc has a fifty-two week low of $23.12 and a fifty-two week high of $36.28. The business has a 50-day moving average of $27.83 and a 200 day moving average of $28.75. The firm has a market cap of $3.28 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.69. 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 issued its earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The business had revenue of $857.50 million for the quarter, compared to the consensus estimate of $851.47 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.Cinemark’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. As a group, research analysts forecast that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be issued a $0.09 dividend. This is a boost from Cinemark’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.36 annualized dividend and a yield of 1.3%. Cinemark’s payout ratio is 34.62%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CNK. Barrington Research reiterated an “outperform” rating and set a $36.00 price target on shares of Cinemark in a report on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research note on Wednesday, November 19th. Wells Fargo & Company reissued an “overweight” rating and issued a $33.00 price target (down from $36.00) on shares of Cinemark in a report on Monday, August 4th. Wall Street Zen upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Roth Capital restated a “buy” rating and set a $35.00 price objective on shares of Cinemark in a report on Wednesday, November 5th. Nine research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.30.

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.