453,253 Shares in Cinemark Holdings Inc $CNK Bought by Man Group plc

Man Group plc purchased a new position in Cinemark Holdings Inc (NYSE:CNK) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 453,253 shares of the company’s stock, valued at approximately $14,382,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNK. Maryland State Retirement & Pension System boosted its position in shares of Cinemark by 3.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company’s stock worth $352,000 after purchasing an additional 449 shares in the last quarter. GAMMA Investing LLC raised its stake in Cinemark by 10.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock worth $158,000 after buying an additional 462 shares during the period. Gabelli Funds LLC raised its stake in Cinemark by 0.5% during the 1st quarter. Gabelli Funds LLC now owns 101,866 shares of the company’s stock worth $2,905,000 after buying an additional 490 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Cinemark by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company’s stock worth $548,000 after acquiring an additional 507 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 507 shares during the period.

Analyst Upgrades and Downgrades

CNK has been the topic of a number of recent research reports. Benchmark increased their target price on Cinemark from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 31st. The Goldman Sachs Group upgraded shares of Cinemark from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $30.00 in a report on Wednesday, July 8th. Morgan Stanley set a $40.00 price objective on shares of Cinemark in a research note on Wednesday, July 29th. JPMorgan Chase & Co. downgraded shares of Cinemark from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $40.00 to $39.00 in a research report on Friday, August 14th. Finally, Barrington Research set a $42.00 target price on shares of Cinemark in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cinemark currently has an average rating of “Moderate Buy” and an average price target of $37.93.

Cinemark Stock Performance

Shares of CNK stock opened at $36.70 on Friday. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The firm has a 50-day moving average of $34.05 and a 200-day moving average of $30.31. Cinemark Holdings Inc has a one year low of $21.60 and a one year high of $38.98. The company has a market cap of $4.25 billion, a P/E ratio of 21.71 and a beta of 1.00.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities research analysts forecast that Cinemark Holdings Inc will post 2.36 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $0.36 annualized dividend and a yield of 1.0%. Cinemark’s payout ratio is currently 21.30%.

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.