Commonwealth Equity Services LLC Cuts Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Commonwealth Equity Services LLC lessened its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 61.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,279 shares of the company's stock after selling 179,231 shares during the quarter. Commonwealth Equity Services LLC owned about 0.09% of Cinemark worth $3,416,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on CNK shares. Wells Fargo & Company lowered their price objective on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Barrington Research reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. Wedbush reiterated a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. Morgan Stanley lowered their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Cinemark from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the 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 Stock Down 3.6 %

CNK stock traded down $0.92 on Friday, hitting $24.82. 2,382,732 shares of the company's stock were exchanged, compared to its average volume of 2,905,887. The firm has a 50 day moving average price of $27.62 and a two-hundred day moving average price of $29.42. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28. The stock has a market cap of $3.04 billion, a P/E ratio of 12.22 and a beta of 2.41. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01.

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 company had revenue of $814.30 million during 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 in the previous year, the business earned ($0.15) earnings per share. As a group, equities research analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently declared 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 payout ratio is presently 15.76%.

Insider Activity

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the transaction, 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.30% of the company's stock.

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.