Cinemark Holdings, Inc. (NYSE:CNK) Stake Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 81.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 588,932 shares of the company's stock after selling 2,538,901 shares during the quarter. JPMorgan Chase & Co. owned 0.48% of Cinemark worth $18,245,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Cinemark in the 4th quarter valued at approximately $63,000. GAMMA Investing LLC boosted its position in shares of Cinemark by 44.9% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock worth $91,000 after purchasing an additional 906 shares in the last quarter. Smartleaf Asset Management LLC grew 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. HighTower Advisors LLC purchased a new position in shares of Cinemark in the 4th quarter valued at about $224,000. Finally, Optimist Retirement Group LLC acquired a new stake in shares of Cinemark in the fourth quarter valued at about $257,000.

Cinemark Stock Up 1.4 %

NYSE CNK traded up $0.38 on Tuesday, hitting $28.14. 2,492,550 shares of the stock traded hands, compared to its average volume of 2,930,676. The company has a market capitalization of $3.32 billion, a P/E ratio of 13.86 and a beta of 2.07. The stock has a 50-day moving average of $26.72 and a 200 day moving average of $29.21. 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 Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28.

Remove Ads

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share (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 the consensus estimate of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business's revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share. As a group, analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The firm also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given 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 Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the 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 sale, the insider now directly owns 147,414 shares of the company's stock, valued at $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNK. JPMorgan Chase & Co. raised shares of Cinemark from a "neutral" rating to an "overweight" rating and increased their target price for the company from $30.00 to $34.00 in a report on Friday. Wells Fargo & Company lowered their target price on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Wedbush reaffirmed a "neutral" rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. Barrington Research reissued an "outperform" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. Finally, Morgan Stanley reduced 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.