Intech Investment Management LLC Raises Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Intech Investment Management LLC raised its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 28.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,943 shares of the company’s stock after acquiring an additional 13,788 shares during the period. Intech Investment Management LLC’s holdings in Cinemark were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. QRG Capital Management Inc. raised its holdings 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. Natixis Advisors LLC raised its holdings in shares of Cinemark by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after acquiring an additional 583 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cinemark by 44.9% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $91,000 after acquiring an additional 906 shares in the last quarter. Quarry LP raised its holdings in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 1,308 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Cinemark by 4.4% during the 4th quarter. New York State Common Retirement Fund now owns 35,628 shares of the company’s stock worth $1,104,000 after acquiring an additional 1,501 shares in the last quarter.

Cinemark Trading Up 1.3 %

NYSE:CNK opened at $26.43 on Friday. Cinemark Holdings, Inc. has a one year low of $16.32 and a one year high of $36.28. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a market cap of $3.23 billion, a P/E ratio of 13.02 and a beta of 2.41. The firm has a 50-day simple moving average of $27.98 and a 200-day simple moving average of $29.50.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. During the same quarter in the prior year, the firm posted ($0.15) EPS. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. Equities analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently disclosed a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s payout ratio is currently 15.76%.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the transaction, the insider now owns 147,414 shares of the company’s stock, valued at $3,980,178. The trade was a 5.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CNK shares. Barrington Research restated an “outperform” rating and set a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Benchmark lowered their target price 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. Wedbush restated a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. Finally, Morgan Stanley lowered their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

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.