Cinemark Holdings, Inc. (NYSE:CNK) Stock Holdings Increased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 5.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 662,790 shares of the company’s stock after purchasing an additional 33,008 shares during the period. Principal Financial Group Inc. owned about 0.54% of Cinemark worth $20,533,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNK. Geode Capital Management LLC boosted its stake in shares of Cinemark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock valued at $68,209,000 after buying an additional 25,857 shares during the period. Hennessy Advisors Inc. raised its holdings in shares of Cinemark by 13.8% during the fourth quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock worth $61,629,000 after acquiring an additional 241,600 shares in the last quarter. Maverick Capital Ltd. boosted its position in Cinemark by 1,356.4% during the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after purchasing an additional 1,413,557 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in Cinemark by 2.4% in the third quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company’s stock valued at $35,207,000 after purchasing an additional 29,275 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Cinemark by 1,532.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock worth $18,102,000 after purchasing an additional 610,398 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CNK. Barrington Research reiterated an “outperform” rating and set a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.70.

Cinemark Stock Performance

Shares of CNK opened at $27.12 on Tuesday. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a one year low of $16.04 and a one year high of $36.28. The company’s fifty day moving average price is $30.13 and its 200 day moving average price is $29.82. The company has a market capitalization of $3.32 billion, a PE ratio of 13.36 and a beta of 2.38.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. During the same period in the prior year, the firm posted ($0.15) EPS. Cinemark’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s dividend payout ratio is 15.76%.

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.