Cinemark Holdings, Inc. (NYSE:CNK) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. grew its position in Cinemark Holdings, Inc. (NYSE:CNK) by 81.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 346,525 shares of the company’s stock after acquiring an additional 155,243 shares during the quarter. Prudential Financial Inc.’s holdings in Cinemark were worth $10,735,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Quarry LP lifted its position in Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 1,308 shares in the last quarter. R Squared Ltd purchased a new position in shares of Cinemark in the 4th quarter valued at $63,000. GAMMA Investing LLC lifted its holdings in shares of Cinemark by 44.9% during the 4th 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. Smartleaf Asset Management LLC boosted its position in Cinemark by 198.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock worth $103,000 after purchasing an additional 2,207 shares during the period. Finally, Quest Partners LLC acquired a new stake in Cinemark in the 3rd quarter valued at $115,000.

Cinemark Stock Down 3.6 %

Shares of Cinemark stock opened at $24.82 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The business has a 50-day moving average price of $27.54 and a 200 day moving average price of $29.40. 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 market cap of $3.04 billion, a P/E ratio of 12.22 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 firm had revenue of $814.30 million for 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 business’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) earnings per share. On average, sell-side analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The firm also recently declared 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 of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is presently 15.76%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNK. JPMorgan Chase & Co. decreased their target price on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Macquarie reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Wells Fargo & Company reduced their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley lowered 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. Finally, Benchmark cut their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

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.