Bank of Nova Scotia lowered its position in Cinemark Holdings Inc (NYSE:CNK) by 42.5% during the first quarter, Holdings Channel reports. The fund owned 201,200 shares of the company’s stock after selling 148,800 shares during the period. Bank of Nova Scotia’s holdings in Cinemark Holdings were worth $8,921,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of CNK. Ladenburg Thalmann Financial Services Inc. boosted its position in Cinemark Holdings by 43.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,195 shares of the company’s stock worth $123,000 after buying an additional 972 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Cinemark Holdings by 1.7% in the fourth quarter. Bessemer Group Inc. now owns 4,277 shares of the company’s stock worth $164,000 after buying an additional 73 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Cinemark Holdings during the first quarter worth about $200,000. Welch & Forbes LLC purchased a new position in shares of Cinemark Holdings during the first quarter worth about $210,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Cinemark Holdings during the first quarter worth about $213,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.
Shares of Cinemark Holdings Inc (CNK) traded up 1.34% during midday trading on Friday, hitting $38.47. The stock had a trading volume of 3,580,845 shares. Cinemark Holdings Inc has a 12 month low of $32.60 and a 12 month high of $44.84. The stock’s 50-day moving average is $41.07 and its 200-day moving average is $41.55. The stock has a market cap of $4.45 billion, a PE ratio of 16.23 and a beta of 1.01.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.07. Cinemark Holdings had a return on equity of 21.75% and a net margin of 9.23%. The firm had revenue of $779.60 million during the quarter, compared to analysts’ expectations of $750.75 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Equities analysts anticipate that Cinemark Holdings Inc will post $2.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 22nd. Stockholders of record on Thursday, June 8th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Tuesday, June 6th. Cinemark Holdings’s dividend payout ratio is currently 49.15%.
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A number of equities analysts recently issued reports on CNK shares. Credit Suisse Group cut Cinemark Holdings from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $38.00 to $34.00 in a report on Thursday. Goldman Sachs Group, Inc. (The) cut Cinemark Holdings from a “conviction-buy” rating to a “buy” rating and set a $49.00 target price on the stock. in a report on Monday, April 10th. B. Riley reiterated a “buy” rating and issued a $53.50 target price on shares of Cinemark Holdings in a report on Tuesday, May 2nd. Royal Bank Of Canada increased their target price on Cinemark Holdings from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, April 17th. Finally, FBR & Co increased their target price on Cinemark Holdings from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $43.87.
In other news, insider Valmir Fernandes sold 6,000 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $43.53, for a total value of $261,180.00. Following the completion of the transaction, the insider now owns 85,505 shares in the company, valued at $3,722,032.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.20% of the stock is owned by insiders.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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