Louisiana State Employees Retirement System Purchases New Position in Cinemark Holdings Inc $CNK

Louisiana State Employees Retirement System purchased a new stake in Cinemark Holdings Inc (NYSE:CNK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,800 shares of the company’s stock, valued at approximately $1,306,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cinemark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock worth $1,635,000 after buying an additional 2,872 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Cinemark in the 1st quarter valued at $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cinemark by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock worth $8,593,000 after acquiring an additional 25,490 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Cinemark during the 1st quarter worth $372,000. Finally, Russell Investments Group Ltd. lifted its position in Cinemark by 48.0% in the second quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock valued at $158,000 after acquiring an additional 1,696 shares during the last quarter.

Cinemark Stock Down 0.0%

CNK stock opened at $31.53 on Friday. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 27.90 and a beta of 0.98. The company has a fifty day moving average price of $29.87 and a 200 day moving average price of $27.29. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $34.73.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The business had revenue of $643.10 million for the quarter, compared to analysts’ expectations of $632.74 million. During the same period in the previous year, the business posted ($0.32) earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. Sell-side analysts expect that Cinemark Holdings Inc will post 2.18 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. Cinemark’s dividend payout ratio (DPR) is currently 31.86%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Roth Mkm restated a “buy” rating and issued a $37.00 price objective on shares of Cinemark in a research note on Thursday, April 23rd. Wall Street Zen upgraded Cinemark from a “hold” rating to a “buy” rating in a research report on Sunday, May 31st. Barrington Research reissued an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a report on Monday, May 4th. Benchmark upped their target price on Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, B. Riley Financial raised their price target on Cinemark from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $34.64.

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.