Charles Schwab Investment Management Inc. lessened its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,430,572 shares of the company's stock after selling 35,916 shares during the period. Charles Schwab Investment Management Inc. owned 1.17% of Cinemark worth $44,319,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Cinemark by 18.8% in the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company's stock valued at $17,533,000 after buying an additional 99,843 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Cinemark in the third quarter valued at $209,000. State of New Jersey Common Pension Fund D acquired a new position in Cinemark in the third quarter valued at $1,960,000. GSA Capital Partners LLP acquired a new position in Cinemark in the third quarter valued at $572,000. Finally, Natixis Advisors LLC lifted its holdings in Cinemark by 2.9% in the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company's stock valued at $575,000 after buying an additional 583 shares during the period.
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 transaction, the insider now owns 147,414 shares of the company's stock, valued at $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.30% of the company's stock.
Cinemark Stock Performance
CNK traded up $0.04 on Tuesday, hitting $24.98. The company's stock had a trading volume of 4,345,869 shares, compared to its average volume of 2,769,479. The company's 50 day simple moving average is $28.26 and its 200-day simple moving average is $29.56. The firm has a market cap of $3.06 billion, a P/E ratio of 12.31 and a beta of 2.41. Cinemark Holdings, Inc. has a 12 month low of $16.32 and a 12 month high of $36.28. 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 (NYSE:CNK - Get Free Report) last released 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). The business 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%. The firm's quarterly revenue was up 27.5% on a year-over-year basis. During the same period last year, the business posted ($0.15) earnings per share. Analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.
Cinemark Dividend Announcement
The firm also recently announced a -- dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark's payout ratio is 15.76%.
Analyst Ratings Changes
Several brokerages recently weighed in on CNK. Wedbush reaffirmed a "neutral" rating and issued 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 note on Thursday, February 20th. Benchmark decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Barrington Research reiterated an "outperform" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cinemark from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.70.
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Cinemark Profile
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Free Report)
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.
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