KLP Kapitalforvaltning AS Makes New $1.33 Million Investment in Cinemark Holdings, Inc. (NYSE:CNK)

KLP Kapitalforvaltning AS acquired a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,900 shares of the company’s stock, valued at approximately $1,329,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Cinemark during the 4th quarter valued at $346,000. First National Bank of Hutchinson boosted its holdings in shares of Cinemark by 3.9% during the fourth quarter. First National Bank of Hutchinson now owns 25,425 shares of the company’s stock worth $788,000 after purchasing an additional 945 shares during the period. Xponance Inc. grew its stake in shares of Cinemark by 96.0% in the fourth quarter. Xponance Inc. now owns 15,079 shares of the company’s stock worth $467,000 after purchasing an additional 7,386 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Cinemark by 28.6% in the fourth quarter. Intech Investment Management LLC now owns 61,943 shares of the company’s stock worth $1,919,000 after purchasing an additional 13,788 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new position in Cinemark during the 4th quarter valued at about $320,000.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, the insider now 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 insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Benchmark cut their price objective on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Barrington Research reiterated an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Macquarie reaffirmed an “outperform” rating and set a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. Finally, Wedbush reiterated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Trading Down 3.6 %

Cinemark stock opened at $24.82 on Friday. 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 business’s fifty day simple moving average is $27.54 and its two-hundred day simple moving average is $29.40. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 12.22 and a beta of 2.41.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS 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 analysts’ expectations of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period last year, the company posted ($0.15) earnings per share. As a group, equities analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

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

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.