Easterly Investment Partners LLC Sells 148,759 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Easterly Investment Partners LLC reduced its holdings in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 78.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,718 shares of the company's stock after selling 148,759 shares during the period. Easterly Investment Partners LLC's holdings in Cinemark were worth $1,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Cinemark by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after acquiring an additional 109,179 shares during the last quarter. Geode Capital Management LLC grew its stake in Cinemark by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company's stock valued at $68,209,000 after purchasing an additional 25,857 shares in the last quarter. Hennessy Advisors Inc. increased its position in shares of Cinemark by 13.8% during 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 during the last quarter. Maverick Capital Ltd. raised its stake in shares of Cinemark by 1,356.4% during the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company's stock worth $42,255,000 after purchasing an additional 1,413,557 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of Cinemark by 2.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company's stock valued at $35,207,000 after buying an additional 29,275 shares during the last quarter.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. 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 report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of Cinemark from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Morgan Stanley reduced their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Benchmark dropped their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Finally, Macquarie reiterated an "outperform" rating and set a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $32.70.

Cinemark Stock Performance

CNK traded down $0.09 during trading on Tuesday, hitting $24.80. The stock had a trading volume of 700,539 shares, compared to its average volume of 3,505,798. 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 company has a 50 day moving average price of $27.47 and a 200-day moving average price of $29.39. Cinemark Holdings, Inc. has a one year low of $16.32 and a one year high of $36.28. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 12.21 and a beta of 2.41.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results 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). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. During the same period in the prior year, the business posted ($0.15) EPS. The firm's quarterly revenue was up 27.5% compared to the same quarter last year. As a group, research analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The firm 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 presently 15.76%.

Insider Activity

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 transaction, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by company insiders.

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.