Cinctive Capital Management LP Invests $5.80 Million in Cinemark Holdings, Inc. (NYSE:CNK)

Cinctive Capital Management LP acquired a new position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 187,096 shares of the company's stock, valued at approximately $5,796,000. Cinctive Capital Management LP owned approximately 0.15% of Cinemark as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CNK. LPL Financial LLC grew its stake in shares of Cinemark by 6.8% in the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company's stock worth $270,000 after acquiring an additional 556 shares during the period. QRG Capital Management Inc. grew its position in Cinemark by 3.2% in the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock worth $549,000 after purchasing an additional 557 shares during the period. GAMMA Investing LLC raised its stake in Cinemark by 44.9% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $91,000 after buying an additional 906 shares during the last quarter. First National Bank of Hutchinson lifted its holdings in shares of Cinemark by 3.9% during the 4th quarter. First National Bank of Hutchinson now owns 25,425 shares of the company's stock valued at $788,000 after buying an additional 945 shares during the period. Finally, Quarry LP boosted its stake in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company's stock worth $42,000 after buying an additional 1,308 shares during the last quarter.

Cinemark Price Performance

Shares of CNK traded down $0.46 during trading hours on Friday, reaching $24.53. 4,202,573 shares of the stock traded hands, compared to its average volume of 2,926,280. The company has a market cap of $3.00 billion, a P/E ratio of 12.09 and a beta of 2.41. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The company's 50-day moving average price is $27.12 and its two-hundred day moving average price is $29.27. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28.

Remove Ads

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business's revenue was up 27.5% on a year-over-year basis. During the same period last year, the company earned ($0.15) EPS. On average, analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Stockholders 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 payout ratio is currently 15.76%.

Insider Activity

In other 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 of the company's stock, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Macquarie reissued an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a research report 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. JPMorgan Chase & Co. cut their target price on shares of Cinemark from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Wedbush reaffirmed a "neutral" rating and set a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their price target on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average 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.