Canada Pension Plan Investment Board Boosts Position in Cinemark Holdings, Inc. (NYSE:CNK)

Canada Pension Plan Investment Board raised its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 187.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 386,000 shares of the company's stock after buying an additional 251,500 shares during the period. Canada Pension Plan Investment Board owned about 0.32% of Cinemark worth $11,958,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its stake 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 purchasing an additional 2,054,579 shares during the period. Norges Bank bought a new position in Cinemark during the 4th quarter valued at approximately $25,623,000. Wealthfront Advisers LLC purchased a new stake in Cinemark in the 4th quarter worth approximately $13,704,000. Renaissance Technologies LLC grew 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 worth $117,773,000 after buying an additional 430,006 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Cinemark by 14.5% during the fourth quarter. Marshall Wace LLP now owns 3,124,834 shares of the company's stock valued at $96,807,000 after buying an additional 396,720 shares during the period.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the business's 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 completion of the transaction, the insider now owns 147,414 shares of the company's stock, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company's stock.

Cinemark Stock Up 1.8 %

Cinemark stock traded up $0.51 during mid-day trading on Friday, hitting $29.51. The company had a trading volume of 4,601,646 shares, compared to its average volume of 2,964,596. 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. The stock's 50 day moving average price is $26.22 and its two-hundred day moving average price is $29.26. The company has a market capitalization of $3.48 billion, a PE ratio of 14.54 and a beta of 2.07.

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

Cinemark Announces Dividend

The firm also recently announced a -- dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend payout ratio is 15.76%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CNK. 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. Benchmark cut 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. JPMorgan Chase & Co. raised shares of Cinemark from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $30.00 to $34.00 in a research note on Friday, April 11th. Macquarie reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Finally, Barrington Research reiterated an "outperform" rating and set a $40.00 target price on shares of Cinemark in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.10.

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.