Corebridge Financial Inc. Sells 4,574 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Corebridge Financial Inc. cut its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,638 shares of the company’s stock after selling 4,574 shares during the quarter. Corebridge Financial Inc.’s holdings in Cinemark were worth $1,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC grew its holdings in Cinemark by 6.8% during the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock valued at $270,000 after buying an additional 556 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Cinemark by 3.2% in the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock valued at $549,000 after acquiring an additional 557 shares during the period. GAMMA Investing LLC grew its stake in Cinemark by 44.9% during the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $91,000 after acquiring an additional 906 shares in the last quarter. First National Bank of Hutchinson increased its holdings in Cinemark by 3.9% during the 4th quarter. First National Bank of Hutchinson now owns 25,425 shares of the company’s stock worth $788,000 after acquiring an additional 945 shares during the period. Finally, Quarry LP lifted its stake in Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares in the last quarter.

Insider Buying and Selling at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark 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 transaction, the insider now directly owns 147,414 shares of the company’s stock, valued at $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CNK. Barrington Research reissued an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Benchmark lowered their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Morgan Stanley lowered their target price on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Finally, Macquarie reissued an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.70.

Cinemark Trading Up 1.2 %

Shares of CNK opened at $24.84 on Thursday. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. Cinemark Holdings, Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $36.28. The firm has a 50 day moving average price of $27.30 and a 200-day moving average price of $29.33. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 12.24 and a beta of 2.41.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) 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 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 quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) earnings per share. As a group, equities research analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

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