Vanguard Group Inc. Acquires 109,179 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Vanguard Group Inc. boosted its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,505,099 shares of the company’s stock after acquiring an additional 109,179 shares during the quarter. Vanguard Group Inc. owned 10.22% of Cinemark worth $387,408,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP raised its stake 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 purchasing an additional 1,308 shares during the last quarter. R Squared Ltd bought a new stake in Cinemark during the fourth quarter worth $63,000. GAMMA Investing LLC raised its position in Cinemark by 44.9% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $91,000 after buying an additional 906 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Cinemark by 198.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock valued at $103,000 after acquiring an additional 2,207 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in Cinemark during the 4th quarter worth $224,000.

Analyst Ratings Changes

CNK has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price objective 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. 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 lowered their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Benchmark reduced their price objective on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 20th. One investment 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Up 1.2 %

CNK stock opened at $24.84 on Thursday. The company’s 50 day moving average is $27.30 and its 200 day moving average is $29.33. The stock has a market cap of $3.04 billion, a price-to-earnings 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. Cinemark Holdings, Inc. has a 1-year low of $16.32 and a 1-year high of $36.28.

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

Cinemark Announces Dividend

The firm also recently declared a — dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark’s payout ratio is currently 15.76%.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares of the company’s stock, valued at $3,980,178. This represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

Cinemark 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.