Polymer Capital Management US LLC Takes Position in Cinemark Holdings, Inc. (NYSE:CNK)

Polymer Capital Management US LLC purchased a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,939 shares of the company’s stock, valued at approximately $277,000.

Other hedge funds also recently modified their holdings of the company. KBC Group NV increased its position in Cinemark by 470.1% in the fourth quarter. KBC Group NV now owns 16,920 shares of the company’s stock worth $524,000 after buying an additional 13,952 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Cinemark by 18.8% during the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after acquiring an additional 99,843 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Cinemark in the 4th quarter worth about $477,000. XTX Topco Ltd bought a new stake in Cinemark in the 3rd quarter valued at about $474,000. Finally, Amundi purchased a new stake in Cinemark during the fourth quarter valued at about $5,985,000.

Analyst Upgrades and Downgrades

CNK has been the subject of several recent research reports. Macquarie reiterated an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Wedbush reissued a “neutral” rating and set a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. Barrington Research reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Finally, Benchmark decreased their price objective on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the company’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 transaction, the insider now directly owns 147,414 shares in the company, valued at approximately $3,980,178. This represents a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

Cinemark Price Performance

Cinemark stock opened at $25.66 on Tuesday. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 12.64 and a beta of 2.07. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The business has a 50-day simple moving average of $27.06 and a 200 day simple moving average of $29.26. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28.

Cinemark (NYSE:CNK) 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). The business had revenue of $814.30 million for 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 firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) EPS. On average, research analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal 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 issued a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

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.