Strs Ohio Cuts Stake in Cinemark Holdings Inc $CNK

Strs Ohio lessened its holdings in shares of Cinemark Holdings Inc (NYSE:CNK) by 73.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,700 shares of the company’s stock after selling 96,000 shares during the quarter. Strs Ohio’s holdings in Cinemark were worth $972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CNK. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Cinemark by 28.9% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 135,142 shares of the company’s stock valued at $3,787,000 after buying an additional 30,264 shares in the last quarter. Amalgamated Bank boosted its position in shares of Cinemark by 1.7% during the third quarter. Amalgamated Bank now owns 29,626 shares of the company’s stock worth $830,000 after acquiring an additional 488 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Cinemark during the third quarter valued at $63,000. SG Americas Securities LLC increased its holdings in Cinemark by 102.4% in the 3rd quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $680,000 after acquiring an additional 1,023,333 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new stake in Cinemark in the 3rd quarter worth $50,000.

Cinemark Price Performance

NYSE:CNK opened at $23.54 on Thursday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 2.29 and a beta of 1.10. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. The business has a 50 day simple moving average of $24.18 and a 200-day simple moving average of $26.28. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $34.01.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). The company had revenue of $857.50 million for the quarter, compared to analysts’ expectations of $851.47 million. Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. Equities analysts forecast that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Cinemark’s previous quarterly dividend of $0.08. Cinemark’s dividend payout ratio is presently 34.62%.

Insider Buying and Selling

In related news, EVP Melissa Thomas sold 22,082 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total transaction of $547,854.42. Following the transaction, the executive vice president directly owned 167,360 shares in the company, valued at approximately $4,152,201.60. This represents a 11.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Moffett Nathanson upgraded Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, January 20th. JPMorgan Chase & Co. dropped their price target on Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Macquarie reduced their price objective on Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. Barrington Research decreased their price objective on Cinemark from $36.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a report on Monday, December 29th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.83.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.