Capula Management Ltd Reduces Position in Cinemark Holdings, Inc. (NYSE:CNK)

Capula Management Ltd reduced its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 69.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,437 shares of the company's stock after selling 23,767 shares during the period. Capula Management Ltd's holdings in Cinemark were worth $323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNK. Vanguard Group Inc. raised its stake in Cinemark by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after buying an additional 109,179 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Cinemark by 100.2% during the fourth 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. Renaissance Technologies LLC raised its position in shares of Cinemark by 12.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock valued at $117,773,000 after purchasing an additional 430,006 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cinemark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company's stock worth $68,209,000 after purchasing an additional 25,857 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its position in Cinemark by 13.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company's stock worth $61,629,000 after purchasing an additional 241,600 shares during the last quarter.

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Analyst Ratings Changes

Several research firms have recently commented on CNK. JPMorgan Chase & Co. upgraded shares of Cinemark from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $30.00 to $34.00 in a research note on Friday. Benchmark lowered their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company cut their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Wedbush reaffirmed a "neutral" rating and set a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and a consensus price target of $33.10.

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction dated 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 in the company, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by insiders.

Cinemark Stock Performance

CNK traded up $0.72 on Friday, reaching $27.90. The stock had a trading volume of 4,073,436 shares, compared to its average volume of 2,929,854. The business's 50-day moving average price is $26.77 and its two-hundred day moving average price is $29.21. The company has a market cap of $3.29 billion, a P/E ratio of 13.74 and a beta of 2.07. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month 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.

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

Cinemark Announces Dividend

The business also recently declared a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark's dividend payout ratio is currently 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.