Raymond James Financial Inc. Takes $1.49 Million Position in Cinemark Holdings, Inc. (NYSE:CNK)

Raymond James Financial Inc. bought a new stake in Cinemark Holdings, Inc. (NYSE:CNK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 48,214 shares of the company’s stock, valued at approximately $1,494,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in shares of Cinemark in the 3rd quarter valued at about $687,000. FMR LLC raised its stake in Cinemark by 148.7% in the 3rd quarter. FMR LLC now owns 30,401 shares of the company’s stock valued at $846,000 after acquiring an additional 18,177 shares during the period. Atom Investors LP acquired a new stake in Cinemark during the 3rd quarter valued at $2,706,000. Centiva Capital LP bought a new position in Cinemark during the third quarter worth $1,210,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Cinemark in the third quarter valued at $2,511,000.

Cinemark Stock Performance

NYSE CNK opened at $24.56 on Wednesday. The firm’s 50 day simple moving average is $27.39 and its 200 day simple moving average is $29.36. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 12.10 and a beta of 2.41. 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 Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28.

Cinemark (NYSE:CNK) last issued its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.15) EPS. As a group, research analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently weighed in on CNK shares. Morgan Stanley dropped 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. Macquarie reissued an “outperform” rating and set a $35.00 target price on shares of Cinemark in a report 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. JPMorgan Chase & Co. lowered their price target on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Finally, Wedbush reissued a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

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 value of $246,213.00. Following the completion of the transaction, the insider now directly owns 147,414 shares in the company, valued at approximately $3,980,178. This represents a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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.