Wealthfront Advisers LLC Buys Shares of 442,362 Cinemark Holdings, Inc. (NYSE:CNK)

Wealthfront Advisers LLC purchased a new stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 442,362 shares of the company's stock, valued at approximately $13,704,000. Wealthfront Advisers LLC owned 0.36% of Cinemark at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CNK. Quarry LP increased its stake in Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company's stock worth $42,000 after purchasing an additional 1,308 shares in the last quarter. R Squared Ltd bought a new stake in shares of Cinemark during the fourth quarter valued at approximately $63,000. GAMMA Investing LLC boosted its position 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 during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Cinemark by 198.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock worth $103,000 after purchasing an additional 2,207 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Cinemark during the 3rd quarter valued at about $115,000.

Cinemark Stock Down 0.7 %

CNK stock opened at $24.09 on Wednesday. The firm has a 50-day moving average price of $28.79 and a 200-day moving average price of $29.66. The stock has a market capitalization of $2.95 billion, a P/E ratio of 11.86 and a beta of 2.41. Cinemark Holdings, Inc. has a 12 month low of $16.32 and a 12 month high of $36.28. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28.

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

Cinemark Announces Dividend

The firm also recently announced a -- dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is 15.76%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNK. JPMorgan Chase & Co. dropped their target price on Cinemark from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company reduced their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Barrington Research reaffirmed an "outperform" rating and set a $40.00 target price on shares of Cinemark in a research report on Wednesday, February 19th. 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, Wedbush reiterated a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.70.

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 value of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares of the company's stock, 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 can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

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.

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