Dimensional Fund Advisors LP Buys 63,140 Shares of Cinemark Holdings, Inc. (CNK)
Dimensional Fund Advisors LP grew its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,519,569 shares of the company’s stock after purchasing an additional 63,140 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Cinemark were worth $53,308,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of CNK. Carillon Tower Advisers Inc. bought a new position in shares of Cinemark during the first quarter valued at approximately $18,541,000. Victory Capital Management Inc. boosted its position in shares of Cinemark by 7.2% during the second quarter. Victory Capital Management Inc. now owns 6,535,343 shares of the company’s stock worth $229,260,000 after buying an additional 438,400 shares during the period. BlackRock Inc. boosted its position in shares of Cinemark by 2.9% during the first quarter. BlackRock Inc. now owns 11,281,416 shares of the company’s stock worth $424,974,000 after buying an additional 319,891 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Cinemark by 110.0% during the first quarter. Handelsbanken Fonder AB now owns 420,000 shares of the company’s stock worth $15,821,000 after buying an additional 220,000 shares during the period. Finally, Unigestion Holding SA acquired a new position in shares of Cinemark during the second quarter worth approximately $6,199,000. 99.60% of the stock is owned by institutional investors.
CNK has been the subject of several analyst reports. Wedbush reiterated a “buy” rating and set a $43.00 price objective on shares of Cinemark in a research report on Tuesday, July 3rd. ValuEngine upgraded Cinemark from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Imperial Capital initiated coverage on Cinemark in a research report on Wednesday, July 11th. They set an “outperform” rating and a $46.00 price objective for the company. Zacks Investment Research upgraded Cinemark from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, July 11th. Finally, Morgan Stanley reduced their price objective on Cinemark from $42.00 to $39.00 and set a “$34.56” rating for the company in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.59.
Cinemark (NYSE:CNK) last released its earnings results on Wednesday, August 8th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). The firm had revenue of $889.05 million during the quarter, compared to analyst estimates of $897.68 million. Cinemark had a return on equity of 19.49% and a net margin of 8.86%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. analysts predict that Cinemark Holdings, Inc. will post 1.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.28 dividend on an annualized basis and a yield of 3.22%. Cinemark’s dividend payout ratio (DPR) is 56.64%.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of June 30, 2018, the company operated 539 theatres and 5,998 screens.
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