South Dakota Investment Council Sells 2,874 Shares of Cinemark Holdings Inc $CNK

South Dakota Investment Council decreased its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 13.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,811 shares of the company’s stock after selling 2,874 shares during the quarter. South Dakota Investment Council’s holdings in Cinemark were worth $568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNK. New York State Teachers Retirement System increased its holdings in shares of Cinemark by 2.5% during the first quarter. New York State Teachers Retirement System now owns 101,388 shares of the company’s stock valued at $2,524,000 after acquiring an additional 2,450 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Cinemark during the first quarter valued at approximately $401,000. Principal Financial Group Inc. increased its holdings in shares of Cinemark by 2.8% during the first quarter. Principal Financial Group Inc. now owns 681,435 shares of the company’s stock valued at $16,961,000 after acquiring an additional 18,645 shares in the last quarter. Alps Advisors Inc. bought a new stake in Cinemark during the first quarter worth $359,000. Finally, Cerity Partners LLC bought a new stake in Cinemark during the first quarter worth $2,081,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CNK. Roth Capital decreased their price target on Cinemark from $36.00 to $34.00 and set a “buy” rating for the company in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft began coverage on Cinemark in a report on Thursday, July 10th. They set a “buy” rating and a $36.00 price target for the company. Wedbush upgraded Cinemark from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $32.00 to $37.00 in a report on Friday, July 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cinemark in a report on Wednesday, October 8th. Finally, Barrington Research reiterated an “outperform” rating and set a $36.00 price target on shares of Cinemark in a report on Tuesday, September 23rd. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.30.

Cinemark Stock Up 0.5%

Shares of NYSE CNK opened at $26.89 on Wednesday. Cinemark Holdings Inc has a one year low of $23.12 and a one year high of $36.28. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The business’s fifty day moving average price is $27.01 and its 200-day moving average price is $28.79. The stock has a market capitalization of $3.09 billion, a PE ratio of 14.69, a P/E/G ratio of 1.96 and a beta of 1.75.

Cinemark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 27th. Cinemark’s dividend payout ratio is currently 17.49%.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president owned 203,768 shares of the company’s stock, valued at approximately $5,128,840.56. This represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is owned by corporate insiders.

About Cinemark

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.