New Age Alpha Advisors LLC Purchases New Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

New Age Alpha Advisors LLC acquired a new position in Cinemark Holdings, Inc. (NYSE:CNK) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 5,912 shares of the company’s stock, valued at approximately $183,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. KBC Group NV grew its stake in shares of Cinemark by 470.1% in the 4th quarter. KBC Group NV now owns 16,920 shares of the company’s stock worth $524,000 after buying an additional 13,952 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Cinemark by 18.8% in the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after acquiring an additional 99,843 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cinemark in the fourth quarter worth $477,000. XTX Topco Ltd bought a new position in shares of Cinemark during the third quarter valued at $474,000. Finally, Amundi purchased a new position in shares of Cinemark in the 4th quarter worth about $5,985,000.

Insider Buying and Selling

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by insiders.

Cinemark Stock Up 1.2 %

CNK opened at $24.84 on Thursday. The firm’s 50 day simple moving average is $27.30 and its two-hundred day simple moving average is $29.33. The company has a market capitalization of $3.04 billion, a PE ratio of 12.24 and a beta of 2.41. Cinemark Holdings, Inc. has a 1-year low of $16.32 and a 1-year high of $36.28. 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 (NYSE:CNK) last announced its earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. During the same period in the prior year, the business posted ($0.15) earnings per share. Cinemark’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, equities analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is presently 15.76%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNK. JPMorgan Chase & Co. reduced their price objective on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Benchmark decreased their price objective 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. Macquarie reiterated an “outperform” rating and set a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. Wedbush reissued a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.70.

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.