Bridgefront Capital LLC Grows Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Bridgefront Capital LLC lifted its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 70.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,768 shares of the company’s stock after buying an additional 8,568 shares during the period. Bridgefront Capital LLC’s holdings in Cinemark were worth $643,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. lifted its position in shares of Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after purchasing an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in Cinemark by 380.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after buying an additional 1,501 shares in the last quarter. R Squared Ltd purchased a new position in Cinemark in the 4th quarter valued at about $63,000. Quarry LP grew its stake in shares of Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock valued at $65,000 after acquiring an additional 623 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Cinemark by 44.9% during the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $91,000 after acquiring an additional 906 shares during the last quarter.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s 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 completion of the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CNK. JPMorgan Chase & Co. lifted their price objective on Cinemark from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a report on Monday, April 28th. Morgan Stanley decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Benchmark cut their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Price Performance

NYSE CNK opened at $29.79 on Tuesday. The company has a 50-day moving average price of $26.47 and a two-hundred day moving average price of $29.34. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 14.68 and a beta of 1.91. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28.

Cinemark (NYSE:CNK) last posted its earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $540.70 million for the quarter, compared to analysts’ expectations of $604.62 million. During the same period last year, the firm earned $0.19 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. Analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The business also recently announced a — dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark’s dividend payout ratio is presently 21.05%.

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.