Cinctive Capital Management LP Purchases New Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Cinctive Capital Management LP bought a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 187,096 shares of the company’s stock, valued at approximately $5,796,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP grew its holdings in Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 1,308 shares in the last quarter. R Squared Ltd acquired a new stake in Cinemark in the 4th quarter worth about $63,000. GAMMA Investing LLC boosted its holdings in Cinemark by 44.9% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $91,000 after purchasing an additional 906 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Cinemark by 198.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock valued at $103,000 after buying an additional 2,207 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Cinemark in the 4th quarter valued at $183,000.

Cinemark Stock Down 1.3 %

Shares of NYSE CNK opened at $24.56 on Wednesday. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28. The stock has a market capitalization of $3.00 billion, a P/E ratio of 12.10 and a beta of 2.41. The company has a 50-day moving average price of $27.39 and a 200-day moving average price of $29.36.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share 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 company had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. During the same quarter last year, the business posted ($0.15) earnings per share. Cinemark’s revenue was up 27.5% on a year-over-year basis. On average, equities research analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

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 was Wednesday, March 5th. Cinemark’s payout ratio is presently 15.76%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Benchmark reduced their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. Morgan Stanley decreased their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. reduced their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Finally, Wells Fargo & Company cut their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.70.

Insider Activity

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the business’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 transaction, the insider now directly owns 147,414 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate 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.