WINTON GROUP Ltd Reduces Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

WINTON GROUP Ltd cut its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,417 shares of the company's stock after selling 10,586 shares during the period. WINTON GROUP Ltd's holdings in Cinemark were worth $1,066,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNK. Maverick Capital Ltd. grew its position in Cinemark by 1,356.4% during the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company's stock valued at $42,255,000 after buying an additional 1,413,557 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Cinemark by 1,532.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company's stock worth $18,102,000 after acquiring an additional 610,398 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Cinemark during the 4th quarter valued at $13,704,000. Hennessy Advisors Inc. increased its stake in shares of Cinemark by 13.8% in 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 in the last quarter. Finally, Castellan Group bought a new position in Cinemark in the 3rd quarter worth $6,130,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CNK. Wedbush restated a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced 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. Benchmark lowered their target price on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Morgan Stanley cut their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Finally, Barrington Research restated an "outperform" rating and issued a $40.00 price objective on shares of Cinemark in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cinemark presently has a consensus rating of "Moderate Buy" and an average price target of $32.70.

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Cinemark Price Performance

Shares of CNK traded up $0.08 during mid-day trading on Wednesday, hitting $24.62. 311,356 shares of the stock were exchanged, compared to its average volume of 3,495,125. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The company has a market cap of $3.01 billion, a PE ratio of 12.12 and a beta of 2.41. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The firm has a 50-day moving average of $27.39 and a two-hundred day moving average of $29.36.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $797.18 million. During the same period in the previous year, the company earned ($0.15) EPS. Cinemark's revenue for the quarter was up 27.5% compared to the same quarter last year. On average, equities analysts predict 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 given a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend payout ratio is currently 15.76%.

Insiders Place Their Bets

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's 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 completion of the sale, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

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.