Cinemark Holdings, Inc. (NYSE:CNK) Position Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 23.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,978 shares of the company’s stock after purchasing an additional 5,365 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cinemark were worth $867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in Cinemark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after buying an additional 25,857 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Cinemark by 13.8% during the fourth quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock worth $61,629,000 after acquiring an additional 241,600 shares in the last quarter. Maverick Capital Ltd. boosted its position in Cinemark by 1,356.4% during the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after purchasing an additional 1,413,557 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in Cinemark by 2.4% in the third quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company’s stock valued at $35,207,000 after purchasing an additional 29,275 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Cinemark by 5.2% in the 4th quarter. Principal Financial Group Inc. now owns 662,790 shares of the company’s stock worth $20,533,000 after purchasing an additional 33,008 shares during the last quarter.

Cinemark Stock Up 1.3 %

CNK stock opened at $26.43 on Friday. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The company has a 50-day moving average of $27.98 and a two-hundred day moving average of $29.50. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 13.02 and a beta of 2.41. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28.

Cinemark (NYSE:CNK) last announced its 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 business 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 revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.15) EPS. As a group, equities research analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

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

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

CNK has been the subject of several research reports. Morgan Stanley reduced their price target 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. decreased their target price on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Macquarie restated an “outperform” rating and set a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Benchmark lowered their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus 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.