Alliancebernstein L.P. Cuts Position in Cinemark Holdings, Inc. (NYSE:CNK)

Alliancebernstein L.P. lessened its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 41.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,806 shares of the company's stock after selling 89,748 shares during the quarter. Alliancebernstein L.P. owned about 0.10% of Cinemark worth $3,928,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC lifted its stake in shares of Cinemark by 121.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 60,597 shares of the company's stock valued at $1,877,000 after buying an additional 33,197 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after acquiring an additional 2,054,579 shares in the last quarter. denkapparat Operations GmbH acquired a new position in Cinemark during the 4th quarter valued at about $291,000. New Age Alpha Advisors LLC bought a new stake in Cinemark during the 4th quarter worth approximately $183,000. Finally, Norges Bank purchased a new stake in shares of Cinemark in the fourth quarter worth approximately $25,623,000.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Cinemark from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $30.00 to $34.00 in a report on Friday, April 11th. Morgan Stanley decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Macquarie restated an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. Barrington Research reiterated an "outperform" rating and set a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Finally, Benchmark decreased their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.10.

Cinemark Stock Performance

Shares of NYSE:CNK traded up $0.44 during trading on Friday, hitting $28.47. 2,652,364 shares of the company were exchanged, compared to its average volume of 2,940,041. The company has a market cap of $3.36 billion, a PE ratio of 14.02 and a beta of 2.07. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a 50 day moving average of $26.49 and a 200 day moving average of $29.22.

Cinemark (NYSE:CNK - Get Free Report) last issued 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). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $814.30 million for the quarter, compared to analysts' expectations of $797.18 million. During the same period last year, the company posted ($0.15) EPS. The business's revenue for the quarter was up 27.5% on a year-over-year basis. As a group, equities research analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The company also recently announced a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is presently 15.76%.

Insiders Place Their Bets

In related 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 owns 147,414 shares in the company, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company's stock.

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.