Wakefield Asset Management LLLP Sells 14,594 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Wakefield Asset Management LLLP decreased its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,858 shares of the company's stock after selling 14,594 shares during the quarter. Wakefield Asset Management LLLP's holdings in Cinemark were worth $1,080,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP grew its position in Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company's stock worth $42,000 after acquiring an additional 1,308 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Cinemark in the 4th quarter valued at $63,000. GAMMA Investing LLC boosted its holdings in Cinemark by 44.9% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock worth $91,000 after purchasing an additional 906 shares in the last quarter. Quest Partners LLC acquired a new position in Cinemark during the third quarter worth $115,000. Finally, Crossmark Global Holdings Inc. bought a new position in Cinemark during the third quarter valued at about $209,000.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.30% of the company's stock.

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Cinemark Price Performance

Shares of NYSE:CNK traded up $0.11 on Tuesday, hitting $24.47. The stock had a trading volume of 3,154,670 shares, compared to its average volume of 2,691,072. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 12.02 and a beta of 2.38. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The firm's 50 day moving average price is $29.60 and its 200-day moving average price is $29.80. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last released 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 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 quarter last year, the firm earned ($0.15) earnings per share. Cinemark's quarterly revenue was up 27.5% on a year-over-year basis. On average, equities research analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wells Fargo & Company decreased their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. StockNews.com upgraded Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, November 10th. Wedbush reissued a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research report on Tuesday, February 18th. Macquarie reissued an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Cinemark in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.