Wakefield Asset Management LLLP Sells 14,594 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Wakefield Asset Management LLLP trimmed its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 29.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,858 shares of the company’s stock after selling 14,594 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Cinemark were worth $1,080,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Cinemark by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after purchasing an additional 25,857 shares during the period. Hennessy Advisors Inc. grew its position in 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 buying an additional 241,600 shares in the last quarter. Maverick Capital Ltd. increased its stake in Cinemark by 1,356.4% during the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after acquiring an additional 1,413,557 shares during the period. Royal London Asset Management Ltd. lifted its position in shares of Cinemark by 2.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company’s stock valued at $35,207,000 after acquiring an additional 29,275 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Cinemark by 5.2% during 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 in the last quarter.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the 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 completion of the sale, the insider now directly owns 147,414 shares in the company, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by insiders.

Cinemark Stock Performance

Cinemark stock opened at $25.73 on Friday. The business has a 50 day moving average of $29.83 and a 200-day moving average of $29.77. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28. The company has a market capitalization of $3.15 billion, a P/E ratio of 12.67 and a beta of 2.38.

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

Cinemark Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on CNK. Barrington Research reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a research note on Wednesday, February 19th. Morgan Stanley cut their price target on shares of 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 issued a $35.00 price objective on shares of Cinemark in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their target price on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and a consensus target price 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.