Arrowstreet Capital Limited Partnership Acquires 2,054,579 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Arrowstreet Capital Limited Partnership lifted its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 100.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,104,552 shares of the company's stock after buying an additional 2,054,579 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 3.35% of Cinemark worth $127,159,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CNK. LPL Financial LLC boosted its holdings in Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company's stock valued at $270,000 after purchasing an additional 556 shares during the period. QRG Capital Management Inc. boosted its stake in Cinemark by 3.2% during the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock valued at $549,000 after buying an additional 557 shares during the period. GAMMA Investing LLC grew its position in 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 buying an additional 906 shares in the last quarter. First National Bank of Hutchinson increased its stake in Cinemark by 3.9% in the 4th quarter. First National Bank of Hutchinson now owns 25,425 shares of the company's stock worth $788,000 after acquiring an additional 945 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company's stock valued at $42,000 after acquiring an additional 1,308 shares in the last quarter.

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Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the company's stock in a transaction that occurred 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 $3,980,178. This represents a 5.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by insiders.

Cinemark Trading Down 1.8 %

CNK traded down $0.46 during midday trading on Friday, reaching $24.53. 4,202,573 shares of the company's stock traded hands, compared to its average volume of 2,926,280. 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 firm has a fifty day moving average of $27.12 and a two-hundred day moving average of $29.27. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 12.09 and a beta of 2.41.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $797.18 million. During the same quarter last year, the company posted ($0.15) earnings per share. The firm's revenue for the quarter was up 27.5% compared to the same quarter last year. On average, equities analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The company also recently declared a -- dividend, which was paid on Wednesday, March 19th. Investors 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 dividend payout ratio is presently 15.76%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CNK. Morgan Stanley lowered their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Macquarie reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a report on Thursday, February 20th. Wells Fargo & Company reduced their target price on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Benchmark dropped their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Cinemark from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $32.70.

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.