Cinemark Holdings, Inc. (NYSE:CNK) Stake Lifted by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,964 shares of the company's stock after buying an additional 14,207 shares during the period. Franklin Resources Inc. owned approximately 0.06% of Cinemark worth $2,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Cinemark in the fourth quarter valued at approximately $63,000. GAMMA Investing LLC raised its holdings in Cinemark by 44.9% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $91,000 after acquiring an additional 906 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Cinemark by 198.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock worth $103,000 after purchasing an additional 2,207 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Cinemark during the fourth quarter worth $183,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Cinemark in the fourth quarter valued at $224,000.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the company's stock in a transaction dated 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 owns 147,414 shares in the company, valued at approximately $3,980,178. This represents 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 accessible through the SEC website. Insiders own 2.30% of the company's stock.

Cinemark Stock Performance

CNK traded up $0.44 during trading hours on Friday, hitting $28.47. 2,652,364 shares of the stock were exchanged, compared to its average volume of 2,938,128. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 14.02 and a beta of 2.07. The stock has a 50-day simple moving average of $26.49 and a 200-day simple moving average of $29.20. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. 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 posted 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 during the quarter, compared to the consensus estimate of $797.18 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. The company's quarterly 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 Announces Dividend

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 of this dividend was Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is presently 15.76%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. upgraded Cinemark from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $30.00 to $34.00 in a report on Friday, April 11th. Benchmark decreased their price target on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Barrington Research restated an "outperform" rating and set a $40.00 price objective on shares of Cinemark in a report on Wednesday, February 19th. Wedbush reissued a "neutral" rating and set a $32.00 price target on shares of Cinemark in a research report on Tuesday, February 18th. Finally, Morgan Stanley reduced their price objective on Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.10.

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.