Federated Hermes Inc. Has $21.34 Million Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Federated Hermes Inc. lowered its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 688,794 shares of the company's stock after selling 44,562 shares during the period. Federated Hermes Inc. owned about 0.56% of Cinemark worth $21,339,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock worth $127,159,000 after acquiring an additional 2,054,579 shares in the last quarter. Norges Bank bought a new stake in Cinemark during the 4th quarter worth approximately $25,623,000. Wealthfront Advisers LLC acquired a new stake in Cinemark during the 4th quarter worth approximately $13,704,000. Hennessy Advisors Inc. lifted its stake in Cinemark by 13.8% in the fourth quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company's stock valued at $61,629,000 after buying an additional 241,600 shares in the last quarter. Finally, Castellan Group acquired a new position in shares of Cinemark in the third quarter valued at approximately $6,130,000.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares of the company's stock, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CNK shares. Wells Fargo & Company cut their price objective 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. Wedbush reaffirmed a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a research report on Tuesday, February 18th. JPMorgan Chase & Co. raised Cinemark from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $30.00 to $34.00 in a research report on Friday. Morgan Stanley reduced 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, Benchmark cut their price objective on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.10.

Cinemark Stock Performance

Shares of NYSE:CNK traded down $0.30 on Monday, hitting $27.63. The company had a trading volume of 664,715 shares, compared to its average volume of 3,625,106. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 13.61 and a beta of 2.07. The stock has a 50 day moving average price of $26.77 and a 200 day moving average price of $29.21. Cinemark Holdings, Inc. has a 1-year low of $16.32 and a 1-year 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.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 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 company had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same quarter last year, the company posted ($0.15) EPS. The firm's quarterly revenue was up 27.5% on a year-over-year basis. Analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The company also recently declared a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is presently 15.76%.

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.