Illinois Municipal Retirement Fund Increases Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Illinois Municipal Retirement Fund boosted its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,305 shares of the company’s stock after purchasing an additional 5,706 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cinemark were worth $1,837,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Creative Planning raised its holdings in shares of Cinemark by 74.8% in the third quarter. Creative Planning now owns 20,907 shares of the company’s stock valued at $582,000 after buying an additional 8,946 shares during the last quarter. Principal Financial Group Inc. increased its position in Cinemark by 18.8% in the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after acquiring an additional 99,843 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Cinemark during the 3rd quarter valued at approximately $209,000. State of New Jersey Common Pension Fund D acquired a new stake in Cinemark during the 3rd quarter worth approximately $1,960,000. Finally, Entropy Technologies LP purchased a new position in shares of Cinemark in the 3rd quarter valued at approximately $893,000.

Analyst Upgrades and Downgrades

CNK has been the subject of several recent research reports. Wedbush reaffirmed a “neutral” rating and set a $32.00 price target on shares of Cinemark in a report on Tuesday, February 18th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Benchmark lowered their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Morgan Stanley cut their price target on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.70.

Insider Activity

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares in the company, valued at $3,980,178. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.

Cinemark Trading Down 0.3 %

Shares of CNK opened at $25.59 on Friday. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The firm has a market capitalization of $3.13 billion, a P/E ratio of 12.61 and a beta of 2.38. The firm’s 50-day moving average is $29.72 and its two-hundred day moving average is $29.77.

Cinemark (NYSE:CNK) last issued 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 business had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. Cinemark’s revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, research analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is presently 15.76%.

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.