Maryland State Retirement & Pension System Reduces Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Maryland State Retirement & Pension System reduced its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK – Free Report) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,157 shares of the company’s stock after selling 1,004 shares during the period. Maryland State Retirement & Pension System’s holdings in Cinemark were worth $696,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Orbis Allan Gray Ltd grew its position in shares of Cinemark by 31.2% during the 1st quarter. Orbis Allan Gray Ltd now owns 11,534,006 shares of the company’s stock valued at $170,588,000 after acquiring an additional 2,743,262 shares during the period. Victory Capital Management Inc. raised its stake in shares of Cinemark by 73.6% in the first quarter. Victory Capital Management Inc. now owns 3,203,591 shares of the company’s stock worth $47,381,000 after buying an additional 1,358,233 shares during the period. Norges Bank purchased a new position in shares of Cinemark during the 4th quarter valued at about $8,659,000. Renaissance Technologies LLC lifted its position in shares of Cinemark by 37.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,596,200 shares of the company’s stock valued at $31,143,000 after buying an additional 989,200 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Cinemark by 26.1% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,870,000 shares of the company’s stock valued at $57,237,000 after acquiring an additional 800,000 shares during the period.

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Cinemark Stock Performance

NYSE CNK opened at $18.11 on Tuesday. The company has a debt-to-equity ratio of 9.70, a current ratio of 1.31 and a quick ratio of 1.27. Cinemark Holdings, Inc. has a 1-year low of $8.28 and a 1-year high of $18.85. The business has a 50 day simple moving average of $16.81 and a two-hundred day simple moving average of $16.25. The stock has a market capitalization of $2.20 billion, a PE ratio of -72.44, a P/E/G ratio of 1.48 and a beta of 2.26.

Cinemark (NYSE:CNK – Get Free Report) last posted its earnings results on Friday, August 4th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.26. Cinemark had a negative net margin of 0.28% and a negative return on equity of 4.43%. The firm had revenue of $942.30 million during the quarter, compared to analyst estimates of $870.21 million. During the same period last year, the firm posted $0.17 earnings per share. Cinemark’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, research analysts predict that Cinemark Holdings, Inc. will post 1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CNK. StockNews.com began coverage on shares of Cinemark in a research note on Thursday, August 17th. They set a “hold” rating on the stock. JPMorgan Chase & Co. downgraded shares of Cinemark from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $21.00 to $18.00 in a report on Wednesday, July 19th. Barrington Research reissued an “outperform” rating and set a $22.00 price target (up from $20.00) on shares of Cinemark in a report on Monday, August 7th. Morgan Stanley boosted their price objective on Cinemark from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Finally, Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of Cinemark in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.94.

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Cinemark Profile

(Free Report)

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 24, 20223 it operated 518 theatres with 5,847 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

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