Aristeia Capital L.L.C. Buys New Position in Cinemark Holdings, Inc. (NYSE:CNK)

Aristeia Capital L.L.C. purchased a new position in Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,373 shares of the company’s stock, valued at approximately $290,000.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in Cinemark by 6.8% in the third quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock worth $1,651,000 after acquiring an additional 3,632 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Cinemark by 18.8% in the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after purchasing an additional 99,843 shares in the last quarter. GAMMA Investing LLC increased its position 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 purchasing an additional 906 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Cinemark by 104.5% during the 4th quarter. Ritholtz Wealth Management now owns 35,953 shares of the company’s stock valued at $1,114,000 after buying an additional 18,371 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in Cinemark in the 4th quarter worth approximately $4,725,000.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were 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. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note 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 research note on Thursday, February 20th. Barrington Research reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upgraded Cinemark from a “neutral” rating to an “overweight” rating and increased their target price for the company from $30.00 to $34.00 in a report on Friday, April 11th. Finally, Wedbush restated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus target price of $33.10.

Cinemark Stock Performance

NYSE:CNK opened at $30.30 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. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28. The stock has a market cap of $3.57 billion, a P/E ratio of 14.93 and a beta of 2.07. The firm’s fifty day simple moving average is $26.40 and its 200 day simple moving average is $29.33.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company had revenue of $540.70 million for the quarter, compared to analysts’ expectations of $604.62 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. Cinemark’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, research analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

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

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.