11,244 Shares in Cinemark Holdings, Inc. (NYSE:CNK) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 11,244 shares of the company's stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CNK. Cinctive Capital Management LP acquired a new stake in Cinemark during the 4th quarter worth approximately $5,796,000. Trexquant Investment LP lifted its position in shares of Cinemark by 24.6% in the fourth quarter. Trexquant Investment LP now owns 697,170 shares of the company's stock worth $21,598,000 after purchasing an additional 137,674 shares in the last quarter. Franklin Resources Inc. lifted its position in Cinemark by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 70,964 shares of the company's stock worth $2,198,000 after buying an additional 14,207 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Cinemark by 121.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 60,597 shares of the company's stock valued at $1,877,000 after acquiring an additional 33,197 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after acquiring an additional 2,054,579 shares during the period.

Analyst Upgrades and Downgrades

CNK has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of Cinemark from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $30.00 to $34.00 in a research report on Friday, April 11th. Benchmark lowered their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Macquarie reissued an "outperform" rating and issued a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. Barrington Research reissued an "outperform" rating and set a $40.00 price objective on shares of Cinemark in a research report 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 report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cinemark has a consensus rating of "Moderate Buy" and an average target price of $33.10.

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Insider Activity at Cinemark

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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by insiders.

Cinemark Stock Performance

Cinemark stock traded down $0.10 during midday trading on Wednesday, reaching $28.09. The stock had a trading volume of 1,644,523 shares, compared to its average volume of 2,927,956. The firm's 50-day moving average price is $26.66 and its 200 day moving average price is $29.20. The firm has a market capitalization of $3.31 billion, a PE ratio of 13.84 and a beta of 2.07. Cinemark Holdings, Inc. has a 12 month low of $16.32 and a 12 month high of $36.28. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $814.30 million for the quarter, compared to analysts' expectations of $797.18 million. During the same period in the previous year, the firm posted ($0.15) EPS. The firm's revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, research analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently announced a -- dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.08 per share. The ex-dividend date 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.