Martingale Asset Management L P Takes Position in Cinemark Holdings, Inc. (NYSE:CNK)

Martingale Asset Management L P bought a new position in Cinemark Holdings, Inc. (NYSE:CNK) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 32,826 shares of the company’s stock, valued at approximately $1,017,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Cinemark by 148.7% in the 3rd quarter. FMR LLC now owns 30,401 shares of the company’s stock worth $846,000 after buying an additional 18,177 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Cinemark in the third quarter worth about $474,000. Geode Capital Management LLC grew its position in shares of Cinemark by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after purchasing an additional 25,857 shares in the last quarter. Castellan Group bought a new stake in Cinemark during the 3rd quarter valued at approximately $6,130,000. Finally, Franklin Resources Inc. raised its stake in Cinemark by 6.8% during the 3rd quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock valued at $1,651,000 after purchasing an additional 3,632 shares during the period.

Analyst Ratings Changes

CNK has been the subject of a number of research analyst reports. Wells Fargo & Company cut 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. Morgan Stanley cut their target price on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Wedbush reiterated a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. Benchmark dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.10.

Insider Transactions at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.

Cinemark Trading Up 2.6 %

Shares of NYSE CNK opened at $27.90 on Friday. Cinemark Holdings, Inc. has a 1-year low of $16.32 and a 1-year high of $36.28. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The business’s 50 day moving average is $26.77 and its two-hundred day moving average is $29.19. The stock has a market capitalization of $3.29 billion, a P/E ratio of 13.74 and a beta of 2.07.

Cinemark (NYSE:CNK) last released its earnings results 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 company had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) EPS. As a group, research analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The company also recently announced a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark’s dividend payout ratio is currently 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.