Cinemark Holdings Inc $CNK Shares Acquired by Tabor Asset Management LP

Tabor Asset Management LP boosted its position in Cinemark Holdings Inc (NYSE:CNK) by 24.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,197 shares of the company’s stock after acquiring an additional 29,562 shares during the quarter. Cinemark accounts for 3.1% of Tabor Asset Management LP’s investment portfolio, making the stock its 14th biggest position. Tabor Asset Management LP’s holdings in Cinemark were worth $4,593,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in Cinemark by 242.9% during the first quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company’s stock worth $88,000 after acquiring an additional 2,502 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Cinemark by 66.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,474 shares of the company’s stock valued at $105,000 after purchasing an additional 1,384 shares in the last quarter. CWM LLC grew its holdings in shares of Cinemark by 20.6% during the 1st quarter. CWM LLC now owns 6,548 shares of the company’s stock worth $163,000 after purchasing an additional 1,118 shares during the period. Praxis Investment Management Inc. acquired a new stake in Cinemark during the 2nd quarter worth approximately $200,000. Finally, Twin Tree Management LP increased its position in Cinemark by 2,790.7% during the 1st quarter. Twin Tree Management LP now owns 8,354 shares of the company’s stock worth $208,000 after purchasing an additional 8,065 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and set a $36.00 price target on shares of Cinemark in a research report on Tuesday, September 23rd. Morgan Stanley cut their target price on shares of Cinemark from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 21st. Wells Fargo & Company restated an “overweight” rating and set a $33.00 target price (down previously from $36.00) on shares of Cinemark in a report on Monday, August 4th. Wall Street Zen upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Finally, Roth Capital reissued a “buy” rating and issued a $35.00 price objective on shares of Cinemark in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.30.

Cinemark Price Performance

Shares of CNK stock opened at $28.50 on Friday. The firm has a fifty day simple moving average of $27.19 and a 200-day simple moving average of $28.79. The company has a market capitalization of $3.35 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.96 and a beta of 1.69. Cinemark Holdings Inc has a twelve month low of $23.12 and a twelve month high of $36.28. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The firm had revenue of $857.50 million for the quarter, compared to analysts’ expectations of $851.47 million. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.19 EPS. Equities research analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be issued a $0.09 dividend. This is an increase from Cinemark’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 28th. Cinemark’s dividend payout ratio (DPR) is currently 34.62%.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president directly owned 203,768 shares in the company, valued at $5,128,840.56. The trade was a 3.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by company insiders.

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.