LGT Fund Management Co Ltd. Purchases Shares of 83,777 Cinemark Holdings, Inc. (NYSE:CNK)

LGT Fund Management Co Ltd. acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 83,777 shares of the company's stock, valued at approximately $2,595,000. LGT Fund Management Co Ltd. owned approximately 0.07% of Cinemark at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Cinemark by 1.1% in the 3rd 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 during the period. Hennessy Advisors Inc. increased 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 purchasing an additional 241,600 shares during the period. Maverick Capital Ltd. raised its holdings in shares of Cinemark by 1,356.4% in the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company's stock valued at $42,255,000 after buying an additional 1,413,557 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Cinemark by 2.4% during the third quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company's stock worth $35,207,000 after buying an additional 29,275 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Cinemark by 5.2% during the fourth quarter. Principal Financial Group Inc. now owns 662,790 shares of the company's stock worth $20,533,000 after buying an additional 33,008 shares during the period.

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Cinemark Price Performance

Shares of NYSE:CNK traded down $0.13 on Thursday, hitting $23.63. The company had a trading volume of 4,205,944 shares, compared to its average volume of 2,708,478. The business has a 50 day moving average of $29.33 and a 200 day moving average of $29.74. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The company has a market cap of $2.89 billion, a PE ratio of 11.64 and a beta of 2.38. 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 posted its quarterly earnings data 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 net margin of 10.16% and a return on equity of 65.83%. The firm had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same period in the prior year, the firm earned ($0.15) EPS. The business's quarterly revenue was up 27.5% on a year-over-year basis. As a group, equities analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently disclosed a -- dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is 15.76%.

Insider Activity

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction dated 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 approximately $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

CNK has been the topic of a number of recent research reports. Benchmark dropped their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. decreased their price target on Cinemark from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Wedbush restated a "neutral" rating and set a $32.00 target price on shares of Cinemark in a research report on Tuesday, February 18th. Barrington Research reaffirmed an "outperform" rating and set a $40.00 price target on shares of Cinemark in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price objective on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $32.70.

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.