42,900 Shares in Cinemark Holdings, Inc. (NYSE:CNK) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,900 shares of the company's stock, valued at approximately $1,329,000.

Several other institutional investors have also modified their holdings of CNK. Quarry LP raised its holdings in Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company's stock valued at $42,000 after buying an additional 1,308 shares during the period. R Squared Ltd bought a new position in Cinemark during the fourth quarter valued at $63,000. GAMMA Investing LLC raised its stake in shares of Cinemark by 44.9% in the fourth 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 period. Smartleaf Asset Management LLC lifted its holdings in shares of 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 position in shares of Cinemark during the 3rd quarter worth about $115,000.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the company's 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 transaction, the insider now directly owns 147,414 shares of the company's stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company's stock.

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Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced 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. Wells Fargo & Company reduced their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Benchmark dropped their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Macquarie reiterated an "outperform" rating and set a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. Finally, Wedbush reissued a "neutral" rating and set a $32.00 target price on shares of Cinemark in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.70.

Cinemark Stock Up 0.9 %

Shares of CNK traded up $0.22 during mid-day trading on Thursday, hitting $25.01. The company's stock had a trading volume of 4,131,119 shares, compared to its average volume of 2,921,162. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The company's 50-day moving average is $27.21 and its 200-day moving average is $29.30. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 12.32 and a beta of 2.41.

Cinemark (NYSE:CNK - Get Free Report) last announced 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). 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 company's revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) earnings per share. On average, equities research analysts forecast 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 given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark's payout ratio is 15.76%.

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.