State of New Jersey Common Pension Fund D Has $1.94 Million Stake in Cinemark Holdings, Inc. (NYSE:CNK)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 10.9% during the fourth quarter, HoldingsChannel reports. The firm owned 62,755 shares of the company’s stock after selling 7,659 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cinemark were worth $1,944,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Maverick Capital Ltd. raised its holdings in Cinemark by 1,356.4% during the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after buying an additional 1,413,557 shares during the period. BNP Paribas Financial Markets increased its position in shares of Cinemark by 1,532.5% during the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock worth $18,102,000 after acquiring an additional 610,398 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Cinemark during the third quarter worth $12,133,000. Hennessy Advisors Inc. lifted its position in Cinemark by 13.8% in the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after acquiring an additional 241,600 shares in the last quarter. Finally, Castellan Group acquired a new position in Cinemark in the 3rd quarter worth $6,130,000.

Cinemark Price Performance

NYSE:CNK opened at $27.12 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. Cinemark Holdings, Inc. has a 12-month low of $16.04 and a 12-month high of $36.28. The stock’s 50 day moving average price is $30.13 and its two-hundred day moving average price is $29.82. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 13.36 and a beta of 2.38.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) earnings per share. On average, analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently declared a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is currently 15.76%.

Analyst Ratings Changes

CNK has been the topic of several recent research reports. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Barrington Research reissued an “outperform” rating and issued a $40.00 target price on shares of Cinemark in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Morgan Stanley lowered their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, Wedbush reissued a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.