Aigen Investment Management LP Sells 34,479 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Aigen Investment Management LP lessened its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 69.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,921 shares of the company's stock after selling 34,479 shares during the quarter. Aigen Investment Management LP's holdings in Cinemark were worth $462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CNK. Maverick Capital Ltd. increased its position in shares of Cinemark by 1,356.4% during the 3rd 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. BNP Paribas Financial Markets grew its position in Cinemark by 1,532.5% during the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company's stock valued at $18,102,000 after acquiring an additional 610,398 shares during the last quarter. Hennessy Advisors Inc. raised its stake 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. Castellan Group bought a new stake in shares of Cinemark in the 3rd quarter worth approximately $6,130,000. Finally, Pinnbrook Capital Management LP purchased a new stake in shares of Cinemark in the 4th quarter valued at $4,937,000.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark 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 completion of the transaction, the insider now directly owns 147,414 shares of the company's stock, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

CNK has been the topic of a number of analyst reports. Morgan Stanley decreased their target price 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. Benchmark lowered their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Wedbush restated a "neutral" rating and set a $32.00 price target on shares of Cinemark in a research report on Tuesday, February 18th. Macquarie reiterated an "outperform" rating and issued a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Cinemark from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.70.

Cinemark Trading Down 0.7 %

NYSE CNK traded down $0.18 during trading on Tuesday, hitting $24.09. The company had a trading volume of 3,616,563 shares, compared to its average volume of 2,728,078. The company's fifty day moving average is $28.93 and its 200-day moving average is $29.69. Cinemark Holdings, Inc. has a one year low of $16.32 and a one year high of $36.28. 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 company has a market cap of $2.95 billion, a price-to-earnings ratio of 11.86 and a beta of 2.41.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results 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 during 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%. Cinemark's quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) earnings per share. On average, sell-side analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The company also recently announced a -- dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark's payout ratio is presently 15.76%.

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.