Cinemark Holdings Inc (CNK) Shares Bought by Legal & General Group Plc
Legal & General Group Plc increased its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 9.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 139,973 shares of the company’s stock after buying an additional 12,526 shares during the period. Legal & General Group Plc owned 0.12% of Cinemark worth $5,068,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in CNK. Ffcm LLC bought a new stake in Cinemark in the 3rd quarter valued at about $125,000. Nordea Investment Management AB boosted its holdings in Cinemark by 2.6% in the 3rd quarter. Nordea Investment Management AB now owns 155,453 shares of the company’s stock valued at $5,629,000 after purchasing an additional 3,965 shares during the period. South Dakota Investment Council bought a new stake in Cinemark in the 3rd quarter valued at about $3,219,000. American International Group Inc. boosted its holdings in Cinemark by 1.4% in the 3rd quarter. American International Group Inc. now owns 232,706 shares of the company’s stock valued at $8,426,000 after purchasing an additional 3,323 shares during the period. Finally, Horan Capital Advisors LLC. boosted its holdings in Cinemark by 59.9% in the 3rd quarter. Horan Capital Advisors LLC. now owns 85,475 shares of the company’s stock valued at $3,095,000 after purchasing an additional 32,014 shares during the period. 94.62% of the stock is owned by institutional investors and hedge funds.
CNK has been the subject of a number of recent research reports. Credit Suisse Group cut their price objective on shares of Cinemark from $34.00 to $30.00 and set an “underperform” rating for the company in a report on Thursday, September 28th. Royal Bank of Canada set a $43.00 price objective on shares of Cinemark and gave the company a “hold” rating in a report on Sunday, September 10th. Morgan Stanley raised shares of Cinemark from an “underweight” rating to an “equal weight” rating and set a $38.00 price objective for the company in a report on Thursday, October 5th. Zacks Investment Research downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Finally, Wedbush reissued an “outperform” rating and issued a $44.00 price objective on shares of Cinemark in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.31.
Cinemark Holdings Inc (NYSE:CNK) opened at $35.96 on Tuesday. The company has a market cap of $4,117.10, a P/E ratio of 16.91, a PEG ratio of 1.19 and a beta of 1.18. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.50. Cinemark Holdings Inc has a 12-month low of $32.03 and a 12-month high of $44.84.
Cinemark (NYSE:CNK) last issued its earnings results on Friday, November 3rd. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $710.70 million during the quarter, compared to analyst estimates of $702.60 million. Cinemark had a net margin of 8.36% and a return on equity of 18.43%. Cinemark’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. sell-side analysts predict that Cinemark Holdings Inc will post 1.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, November 30th. Cinemark’s payout ratio is presently 54.98%.
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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