Wells Fargo & Company MN Has $32.34 Million Position in Cinemark Holdings, Inc. (NYSE:CNK)

Wells Fargo & Company MN reduced its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 24.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,044,020 shares of the company’s stock after selling 346,647 shares during the period. Wells Fargo & Company MN’s holdings in Cinemark were worth $32,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CNK. Vanguard Group Inc. raised its holdings in Cinemark by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock worth $387,408,000 after acquiring an additional 109,179 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Cinemark by 100.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock worth $127,159,000 after acquiring an additional 2,054,579 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 25,857 shares in the last quarter. Hennessy Advisors Inc. raised its holdings 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 acquiring an additional 241,600 shares in the last quarter. Finally, Norges Bank bought a new stake in Cinemark during the fourth quarter worth about $25,623,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CNK shares. JPMorgan Chase & Co. dropped 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. Benchmark dropped their price objective on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Wedbush restated a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a research note on Tuesday, February 18th. Barrington Research restated an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. Finally, Morgan Stanley dropped their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Insider Transactions at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction that occurred on 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 owns 147,414 shares of the company’s stock, valued at $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Cinemark Price Performance

Shares of NYSE CNK opened at $27.19 on Friday. The firm has a market cap of $3.21 billion, a P/E ratio of 13.40 and a beta of 2.07. 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. The business’s 50 day moving average is $26.81 and its 200-day moving average is $29.19.

Cinemark (NYSE:CNK) last announced 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 firm had revenue of $814.30 million for the quarter, compared to the consensus estimate 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 business posted ($0.15) EPS. Equities research analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

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

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.