Smartleaf Asset Management LLC Buys 2,207 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Smartleaf Asset Management LLC increased its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 198.3% in the fourth quarter, HoldingsChannel reports. The fund owned 3,320 shares of the company’s stock after purchasing an additional 2,207 shares during the period. Smartleaf Asset Management LLC’s holdings in Cinemark were worth $103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CNK. Quarry LP raised its position in Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 1,308 shares during the last quarter. R Squared Ltd purchased a new position in shares of Cinemark during the 4th quarter worth approximately $63,000. GAMMA Investing LLC grew 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 during the period. Quest Partners LLC purchased a new position in shares of Cinemark during the 3rd quarter worth approximately $115,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Cinemark during the 3rd quarter worth approximately $209,000.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNK. Macquarie reiterated an “outperform” rating and set a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Morgan Stanley cut 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. Barrington Research restated an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a research note on Wednesday, February 19th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, Wedbush restated a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have issued 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, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Performance

CNK stock opened at $24.42 on Friday. The stock has a market capitalization of $2.99 billion, a PE ratio of 12.03 and a beta of 2.41. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month 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. The stock’s 50 day simple moving average is $29.07 and its 200 day simple moving average is $29.70.

Cinemark (NYSE:CNK) last released its quarterly earnings results 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). The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. Cinemark’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share. As a group, research analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

About Cinemark

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.