MYDA Advisors LLC Sells 145,000 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

MYDA Advisors LLC trimmed its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 64.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,000 shares of the company's stock after selling 145,000 shares during the quarter. MYDA Advisors LLC owned about 0.07% of Cinemark worth $2,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Cinemark by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after acquiring an additional 109,179 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Cinemark by 100.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the period. Renaissance Technologies LLC raised its stake in shares of Cinemark by 12.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock valued at $117,773,000 after purchasing an additional 430,006 shares in the last quarter. Marshall Wace LLP lifted its holdings in Cinemark by 14.5% in the fourth quarter. Marshall Wace LLP now owns 3,124,834 shares of the company's stock worth $96,807,000 after purchasing an additional 396,720 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Cinemark by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,959,183 shares of the company's stock valued at $91,676,000 after buying an additional 34,402 shares in the last quarter.

Cinemark Trading Down 1.4 %

Shares of CNK traded down $0.41 during midday trading on Wednesday, hitting $29.00. The stock had a trading volume of 4,817,209 shares, compared to its average volume of 2,950,696. The business has a 50-day simple moving average of $26.37 and a two-hundred day simple moving average of $29.25. The firm has a market cap of $3.42 billion, a P/E ratio of 14.28 and a beta of 2.07. 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 fifty-two week low of $16.32 and a fifty-two week high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data 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 return on equity of 65.83% and a net margin of 10.16%. 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 business posted ($0.15) EPS. The company's revenue for the quarter was up 27.5% on a year-over-year basis. As a group, equities analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The firm also recently disclosed 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 was Wednesday, March 5th. Cinemark's payout ratio is presently 15.76%.

Insider Buying and Selling at Cinemark

In related 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 transaction of $246,213.00. Following the completion of the sale, the insider now directly owns 147,414 shares in the company, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CNK shares. Wells Fargo & Company reduced their price target 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. Wedbush restated a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a research report on Tuesday, February 18th. Morgan Stanley lowered their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised Cinemark from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $30.00 to $34.00 in a research note on Friday, April 11th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $40.00 target price on shares of Cinemark in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.