Allspring Global Investments Holdings LLC Grows Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Allspring Global Investments Holdings LLC lifted its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 1,507.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,431 shares of the company’s stock after buying an additional 81,992 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Cinemark worth $2,709,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quarry LP increased its holdings in shares of Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after buying an additional 1,308 shares during the period. R Squared Ltd purchased a new position in shares of Cinemark in the fourth quarter worth about $63,000. GAMMA Investing LLC increased its holdings in shares of Cinemark by 44.9% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $91,000 after buying an additional 906 shares during the period. CWM LLC increased its holdings in shares of Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after buying an additional 1,716 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Cinemark in the third quarter worth about $115,000.

Cinemark Stock Down 1.1 %

CNK stock opened at $27.47 on Friday. Cinemark Holdings, Inc. has a fifty-two week low of $15.74 and a fifty-two week high of $36.28. The business’s 50 day moving average price is $30.33 and its two-hundred day moving average price is $29.75. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.96 and a current ratio of 0.98. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 13.53 and a beta of 2.38.

Cinemark (NYSE:CNK) last posted its 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 firm had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. During the same quarter last year, the company posted ($0.15) EPS. The firm’s revenue was up 27.5% on a year-over-year basis. As a group, analysts forecast that Cinemark Holdings, Inc. will post 1.98 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently declared 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 currently 15.76%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a report on Wednesday. Macquarie restated an “outperform” rating and set a $35.00 price target on shares of Cinemark in a report on Thursday. Benchmark reduced their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday. Wedbush restated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.70.

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.