Corebridge Financial Inc. Has $1.82 Million Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Corebridge Financial Inc. lessened its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,638 shares of the company’s stock after selling 4,574 shares during the quarter. Corebridge Financial Inc.’s holdings in Cinemark were worth $1,817,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Wealthfront Advisers LLC acquired a new position in Cinemark during the 4th quarter worth approximately $13,704,000. Hennessy Advisors Inc. increased 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 valued at $61,629,000 after acquiring an additional 241,600 shares in the last quarter. Castellan Group acquired a new position in shares of Cinemark during the third quarter worth approximately $6,130,000. Amundi bought a new position in shares of Cinemark in the 4th quarter worth $5,985,000. Finally, Pinnbrook Capital Management LP acquired a new stake in Cinemark in the 4th quarter valued at $4,937,000.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by corporate insiders.

Cinemark Stock Performance

Shares of Cinemark stock opened at $24.84 on Thursday. The firm has a market capitalization of $3.04 billion, a P/E ratio of 12.24 and a beta of 2.41. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The business’s fifty day simple moving average is $27.30 and its 200 day simple moving average is $29.33. Cinemark Holdings, Inc. has a 12 month low of $16.32 and a 12 month high of $36.28.

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

Cinemark Announces Dividend

The company also recently disclosed a — dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Benchmark dropped their price target on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Barrington Research reissued an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a report on Wednesday, February 19th. Macquarie restated an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Company Profile

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.