Bridgewater Associates LP Makes New Investment in Cinemark Holdings, Inc. (NYSE:CNK)

Bridgewater Associates LP purchased a new position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,276 shares of the company's stock, valued at approximately $1,341,000.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in shares of Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after purchasing an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after purchasing an additional 1,501 shares during the last quarter. R Squared Ltd bought a new position in Cinemark during the 4th quarter worth about $63,000. GAMMA Investing LLC grew its holdings in Cinemark by 44.9% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock worth $91,000 after acquiring an additional 906 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Cinemark by 198.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock worth $103,000 after acquiring an additional 2,207 shares in the last quarter.

Analysts Set New Price Targets

CNK has been the topic of several recent research reports. Barrington Research reiterated an "outperform" rating and set a $40.00 target price on shares of Cinemark in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised shares of Cinemark from a "neutral" rating to an "overweight" rating and increased their price target for the company from $30.00 to $34.00 in a research report on Friday, April 11th. Wells Fargo & Company decreased their price target on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Benchmark decreased their price target on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Finally, Macquarie reissued an "outperform" rating and set a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cinemark has a consensus rating of "Moderate Buy" and a consensus price target of $33.10.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.

Cinemark Stock Performance

Shares of CNK traded down $0.09 during trading hours on Thursday, reaching $28.94. 383,129 shares of the company traded hands, compared to its average volume of 2,940,644. The stock has a market capitalization of $3.41 billion, a P/E ratio of 14.25 and a beta of 2.07. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28. The business has a fifty day moving average price of $26.29 and a 200-day moving average price of $29.25.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results 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 net margin of 10.16% and a return on equity of 65.83%. The business had revenue of $814.30 million during the quarter, compared to analysts' expectations of $797.18 million. During the same period in the previous year, the company posted ($0.15) earnings per share. Cinemark's revenue for the quarter was up 27.5% compared to the same quarter last year. Equities analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

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

About Cinemark

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.