Cinemark Holdings Inc (CNK) Stake Lowered by Renaissance Technologies LLC
Renaissance Technologies LLC lowered its holdings in Cinemark Holdings Inc (NYSE:CNK) by 5.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,118,700 shares of the company’s stock after selling 64,100 shares during the quarter. Renaissance Technologies LLC owned about 0.97% of Cinemark Holdings worth $43,461,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CNK. BlackRock Inc. grew its position in shares of Cinemark Holdings by 13,956.8% in the 1st quarter. BlackRock Inc. now owns 11,065,807 shares of the company’s stock valued at $490,657,000 after buying an additional 10,987,085 shares during the last quarter. FMR LLC raised its stake in Cinemark Holdings by 83.9% during the 1st quarter. FMR LLC now owns 9,942,173 shares of the company’s stock worth $440,836,000 after acquiring an additional 4,534,853 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in Cinemark Holdings by 5,955.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 1,103,558 shares of the company’s stock worth $40,236,000 after acquiring an additional 1,085,334 shares in the last quarter. Jennison Associates LLC raised its stake in Cinemark Holdings by 32.9% during the 2nd quarter. Jennison Associates LLC now owns 3,988,676 shares of the company’s stock worth $154,960,000 after acquiring an additional 988,361 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Cinemark Holdings by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 9,003,092 shares of the company’s stock worth $399,198,000 after acquiring an additional 714,887 shares in the last quarter. Institutional investors and hedge funds own 90.13% of the company’s stock.
Cinemark Holdings Inc (CNK) opened at 36.70 on Tuesday. The firm has a 50 day moving average price of $34.72 and a 200 day moving average price of $39.22. Cinemark Holdings Inc has a 52 week low of $32.03 and a 52 week high of $44.84. The stock has a market capitalization of $4.25 billion, a P/E ratio of 15.68 and a beta of 1.10.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The business had revenue of $751.20 million for the quarter, compared to the consensus estimate of $751.72 million. During the same quarter last year, the business posted $0.46 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities research analysts predict that Cinemark Holdings Inc will post $2.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Thursday, August 31st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 3.16%. Cinemark Holdings’s payout ratio is currently 49.57%.
In related news, CEO Mark Zoradi bought 5,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were purchased at an average cost of $32.19 per share, with a total value of $160,950.00. Following the completion of the transaction, the chief executive officer now directly owns 172,456 shares of the company’s stock, valued at $5,551,358.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.10% of the stock is owned by corporate insiders.
CNK has been the subject of a number of research reports. Moffett Nathanson cut shares of Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 price target for the company. in a research report on Monday, June 12th. Credit Suisse Group lowered Cinemark Holdings from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $38.00 to $34.00 in a report on Thursday, June 22nd. Wedbush lifted their target price on Cinemark Holdings from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 4th. Zacks Investment Research cut Cinemark Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Morgan Stanley cut their target price 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. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Cinemark Holdings has an average rating of “Hold” and an average target price of $42.33.
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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