Raymond James Financial Inc. Buys New Position in Cinemark Holdings, Inc. (NYSE:CNK)

Raymond James Financial Inc. acquired a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,214 shares of the company's stock, valued at approximately $1,494,000.

Several other large investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Cinemark in the third quarter worth approximately $687,000. FMR LLC lifted its holdings in shares of Cinemark by 148.7% in the 3rd quarter. FMR LLC now owns 30,401 shares of the company's stock worth $846,000 after purchasing an additional 18,177 shares in the last quarter. Atom Investors LP acquired a new stake in Cinemark in the 3rd quarter valued at $2,706,000. Centiva Capital LP acquired a new position in Cinemark during the third quarter worth $1,210,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Cinemark in the third quarter valued at $2,511,000.

Analyst Ratings Changes

A number of research firms recently weighed in on CNK. Morgan Stanley lowered their target price 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. Barrington Research reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Cinemark in a report on Wednesday, February 19th. Wells Fargo & Company reduced their target price on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Benchmark reduced their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Macquarie reaffirmed an "outperform" rating and set a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.70.

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Cinemark Stock Performance

Shares of CNK stock traded down $0.46 during trading on Friday, reaching $24.53. 4,131,073 shares of the company's stock traded hands, compared to its average volume of 2,926,247. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28. The company has a market capitalization of $3.00 billion, a P/E ratio of 12.09 and a beta of 2.41. 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 firm's 50-day moving average is $27.21 and its 200 day moving average is $29.30.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. During the same period in the previous year, the business earned ($0.15) earnings per share. Cinemark's revenue was up 27.5% on a year-over-year basis. Equities research analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The business also recently declared a -- dividend, which was paid on Wednesday, March 19th. Stockholders 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 Transactions at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company's stock.

Cinemark Company 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.