Amundi Makes New $5.99 Million Investment in Cinemark Holdings, Inc. (NYSE:CNK)

Amundi acquired a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 196,681 shares of the company's stock, valued at approximately $5,985,000. Amundi owned about 0.16% of Cinemark at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP boosted its stake in shares of Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company's stock valued at $42,000 after purchasing an additional 1,308 shares during the period. R Squared Ltd bought a new position in shares of Cinemark during the fourth quarter valued at about $63,000. GAMMA Investing LLC boosted its holdings in shares of Cinemark by 44.9% during the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock worth $91,000 after purchasing an additional 906 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Cinemark by 198.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock worth $103,000 after purchasing an additional 2,207 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Cinemark during the 3rd quarter valued at about $115,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Cinemark from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Benchmark decreased their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Morgan Stanley cut their price target 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. Macquarie restated an "outperform" rating and issued a $35.00 price objective on shares of Cinemark in a report on Thursday, February 20th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cinemark currently has a consensus rating of "Moderate Buy" and an average price target of $32.70.

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Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the sale, the insider now directly owns 147,414 shares of the company's stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Cinemark Stock Up 4.3 %

Shares of NYSE:CNK traded up $1.06 during midday trading on Wednesday, reaching $26.07. The company's stock had a trading volume of 3,627,379 shares, compared to its average volume of 3,472,867. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The firm has a 50 day moving average of $28.15 and a 200-day moving average of $29.54. The firm has a market capitalization of $3.19 billion, a P/E ratio of 12.84 and a beta of 2.41. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $814.30 million during the quarter, compared to analysts' expectations of $797.18 million. During the same quarter last year, the company posted ($0.15) EPS. Cinemark's revenue for the quarter was up 27.5% compared to the same quarter last year. On average, research analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently disclosed a -- dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is presently 15.76%.

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.