Virtu Financial LLC acquired a new position in Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,623 shares of the company’s stock, valued at approximately $300,000.
Several other hedge funds have also recently made changes to their positions in the business. California Public Employees Retirement System lifted its position in shares of Cinemark by 0.6% in the 3rd quarter. California Public Employees Retirement System now owns 264,939 shares of the company’s stock worth $9,593,000 after acquiring an additional 1,539 shares during the period. Principal Financial Group Inc. lifted its position in shares of Cinemark by 0.4% in the 3rd quarter. Principal Financial Group Inc. now owns 451,004 shares of the company’s stock worth $16,331,000 after acquiring an additional 1,639 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cinemark by 54.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,862 shares of the company’s stock worth $204,000 after acquiring an additional 2,070 shares during the period. Bank of Montreal Can lifted its position in shares of Cinemark by 0.5% in the 4th quarter. Bank of Montreal Can now owns 477,615 shares of the company’s stock worth $16,630,000 after acquiring an additional 2,264 shares during the period. Finally, Mutual of America Capital Management LLC lifted its position in shares of Cinemark by 2.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 88,431 shares of the company’s stock worth $3,079,000 after acquiring an additional 2,405 shares during the period. Institutional investors own 93.97% of the company’s stock.
In related news, insider Valmir Fernandes sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $43.59, for a total transaction of $261,540.00. Following the completion of the sale, the insider now directly owns 103,582 shares of the company’s stock, valued at approximately $4,515,139.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.20% of the company’s stock.
A number of analysts have commented on CNK shares. MKM Partners reduced their price objective on Cinemark to $44.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Barrington Research reiterated a “buy” rating and issued a $49.00 price objective on shares of Cinemark in a research report on Friday, March 2nd. Royal Bank of Canada raised their price objective on Cinemark to $46.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Moffett Nathanson upgraded Cinemark from a “sell” rating to a “neutral” rating and set a $35.00 price objective for the company in a research report on Thursday. Finally, Piper Jaffray set a $47.00 price objective on Cinemark and gave the stock a “buy” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Cinemark has a consensus rating of “Hold” and an average price target of $41.71.
Cinemark stock opened at $39.13 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 1.45. The company has a market cap of $4,428.24, a P/E ratio of 17.31, a P/E/G ratio of 1.07 and a beta of 0.99. Cinemark Holdings, Inc. has a one year low of $32.03 and a one year high of $44.74.
Cinemark (NYSE:CNK) last posted its earnings results on Friday, February 23rd. The company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.35. Cinemark had a return on equity of 19.48% and a net margin of 8.83%. The business had revenue of $750.00 million during the quarter, compared to the consensus estimate of $745.92 million. During the same quarter last year, the company earned $0.66 EPS. Cinemark’s revenue was up 7.0% on a year-over-year basis. equities research analysts forecast that Cinemark Holdings, Inc. will post 2.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Thursday, March 8th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.27%. This is a boost from Cinemark’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, March 7th. Cinemark’s dividend payout ratio (DPR) is currently 56.64%.
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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 December 31, 2017, the company operated 533 theatres and 5,959 screens.
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