Prudential Financial Inc. Acquires 155,243 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Prudential Financial Inc. raised its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 81.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 346,525 shares of the company's stock after purchasing an additional 155,243 shares during the quarter. Prudential Financial Inc. owned 0.28% of Cinemark worth $10,735,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its stake in Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company's stock valued at $42,000 after purchasing an additional 1,308 shares during the last quarter. R Squared Ltd purchased a new stake in Cinemark in the 4th quarter worth $63,000. GAMMA Investing LLC lifted its position in shares of Cinemark by 44.9% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $91,000 after acquiring an additional 906 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Cinemark by 198.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock valued at $103,000 after acquiring an additional 2,207 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Cinemark in the 3rd quarter worth $115,000.

Insider Activity

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. The trade was 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. 2.30% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Cinemark from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company decreased their target price on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Morgan Stanley dropped their price target on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Macquarie reaffirmed an "outperform" rating and set a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. Finally, Wedbush restated a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Cinemark has a consensus rating of "Moderate Buy" and an average price target of $32.70.

Cinemark Stock Performance

CNK traded up $0.13 during trading hours on Monday, hitting $24.97. 3,037,800 shares of the stock were exchanged, compared to its average volume of 2,911,451. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a 50-day simple moving average of $27.54 and a 200-day simple moving average of $29.41. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 12.30 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.

Cinemark (NYSE:CNK - Get Free Report) last announced 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 return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. During the same quarter last year, the firm posted ($0.15) EPS. The company's revenue was up 27.5% compared to the same quarter last year. Analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently announced a -- dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend 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.