Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lowered its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 32.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,299,028 shares of the company’s stock after selling 612,826 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Cinemark were worth $40,244,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. LPL Financial LLC boosted its holdings in Cinemark by 6.8% during the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after buying an additional 556 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Cinemark by 3.2% during the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock worth $549,000 after acquiring an additional 557 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Cinemark by 3.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock worth $504,000 after acquiring an additional 591 shares during the period. Summit Investment Advisors Inc. raised its holdings in Cinemark by 5.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock worth $358,000 after purchasing an additional 618 shares during the last quarter. Finally, Quarry LP boosted its position in Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock worth $65,000 after purchasing an additional 623 shares in the last quarter.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction that occurred on 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 owns 147,414 shares in the company, valued at $3,980,178. This represents a 5.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cinemark Stock Down 1.7 %

CNK opened at $29.79 on Tuesday. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 14.68 and a beta of 1.91. Cinemark Holdings, Inc. has a 12 month low of $16.32 and a 12 month 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 has a 50-day moving average of $26.47 and a two-hundred day moving average of $29.34.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.32). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. During the same quarter last year, the firm posted $0.19 earnings per share. Cinemark’s revenue was down 6.6% on a year-over-year basis. On average, research analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The firm 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 of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio is presently 21.05%.

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.