California Public Employees Retirement System Decreases Position in Cinemark Holdings, Inc. (NYSE:CNK)

California Public Employees Retirement System lessened its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 249,655 shares of the company’s stock after selling 18,873 shares during the quarter. California Public Employees Retirement System owned 0.21% of Cinemark worth $9,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Enlightenment Research LLC acquired a new position in Cinemark during the 4th quarter worth approximately $36,000. Quadrant Capital Group LLC boosted its stake in Cinemark by 766.1% during the first quarter. Quadrant Capital Group LLC now owns 1,429 shares of the company’s stock worth $55,000 after acquiring an additional 1,264 shares in the last quarter. Starr International Co. Inc. bought a new position in Cinemark during the first quarter worth $154,000. QS Investors LLC bought a new position in Cinemark during the fourth quarter worth $162,000. Finally, Ffcm LLC lifted its stake in shares of Cinemark by 128.9% in the fourth quarter. Ffcm LLC now owns 4,865 shares of the company’s stock valued at $174,000 after buying an additional 2,740 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

In other news, insider Valmir Fernandes sold 4,033 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $43.00, for a total value of $173,419.00. Following the completion of the sale, the insider now directly owns 114,961 shares in the company, valued at $4,943,323. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.00% of the stock is owned by insiders.

Shares of Cinemark stock traded down $0.11 during trading on Friday, hitting $38.14. 1,101,324 shares of the stock traded hands, compared to its average volume of 863,554. Cinemark Holdings, Inc. has a 52-week low of $34.03 and a 52-week high of $43.51. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 2.18. The firm has a market cap of $4.48 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.09 and a beta of 0.83.

Cinemark (NYSE:CNK) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. The company had revenue of $714.70 million for the quarter, compared to analyst estimates of $688.51 million. Cinemark had a return on equity of 12.61% and a net margin of 5.85%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Analysts forecast that Cinemark Holdings, Inc. will post 2.33 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, June 7th. Cinemark’s dividend payout ratio (DPR) is presently 74.32%.

CNK has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Cinemark from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. ValuEngine upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. Finally, Wedbush set a $46.00 target price on shares of Cinemark and gave the company a “buy” rating in a research report on Friday, February 22nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $44.67.

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Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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