UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 24.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 319,768 shares of the company’s stock after acquiring an additional 61,911 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cinemark were worth $9,906,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. grew its stake 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 acquiring an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd grew its stake in shares of Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after acquiring an additional 1,501 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Cinemark during the fourth quarter worth 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 worth $65,000 after acquiring an additional 623 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Cinemark by 198.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock worth $103,000 after acquiring an additional 2,207 shares during the last quarter.

Insider Activity

In related news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the transaction, the executive vice president now directly owns 210,968 shares of the company’s stock, valued at approximately $6,630,724.24. This represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the transaction, the insider now directly owns 130,612 shares of the company’s stock, valued at approximately $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CNK shares. Benchmark dropped their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Morgan Stanley dropped their price target on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Wedbush reiterated a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. Finally, Macquarie reiterated an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. One 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.20.

Cinemark Trading Up 2.4%

Cinemark stock opened at $33.76 on Friday. 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 Holdings, Inc. has a 12 month low of $16.32 and a 12 month high of $36.28. The stock’s 50 day simple moving average is $29.00 and its two-hundred day simple moving average is $29.59. The firm has a market cap of $3.88 billion, a PE ratio of 16.63 and a beta of 1.91.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $604.62 million. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue was down 6.6% on a year-over-year basis. Analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.95%. Cinemark’s dividend payout ratio (DPR) is 21.05%.

Cinemark Company 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.