Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. trimmed its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,247,136 shares of the company's stock after selling 17,478 shares during the period. Royal London Asset Management Ltd. owned approximately 1.02% of Cinemark worth $38,636,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CNK. Maverick Capital Ltd. boosted its stake in Cinemark by 1,356.4% during the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company's stock worth $42,255,000 after acquiring an additional 1,413,557 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Cinemark by 1,532.5% during the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company's stock valued at $18,102,000 after purchasing an additional 610,398 shares during the period. Wealthfront Advisers LLC acquired a new position in shares of Cinemark during the fourth quarter valued at about $13,704,000. Hennessy Advisors Inc. boosted its position in shares of Cinemark by 13.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company's stock worth $61,629,000 after purchasing an additional 241,600 shares in the last quarter. Finally, Castellan Group acquired a new stake in shares of Cinemark in the 3rd quarter valued at about $6,130,000.

Cinemark Stock Up 1.1 %

Shares of Cinemark stock traded up $0.29 during midday trading on Tuesday, hitting $25.66. The company had a trading volume of 2,863,394 shares, compared to its average volume of 2,807,421. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The stock has a market capitalization of $3.14 billion, a P/E ratio of 12.64 and a beta of 2.41. The company has a 50 day moving average of $27.82 and a 200 day moving average of $29.49. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01.

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Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results 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). The company had revenue of $814.30 million for 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%. Cinemark's quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. On average, equities analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The company also recently disclosed 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 of this dividend was Wednesday, March 5th. Cinemark's payout ratio is 15.76%.

Wall Street Analyst Weigh In

CNK has been the topic of several recent research reports. Barrington Research reiterated an "outperform" rating and issued a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Morgan Stanley cut their target price on Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Wedbush restated a "neutral" rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price objective on shares of Cinemark from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Finally, Wells Fargo & Company decreased their target price on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.70.

Insider Buying and Selling at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company's stock.

Cinemark 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.