State of Wyoming Acquires 13,217 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

State of Wyoming lifted its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 122.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,013 shares of the company’s stock after acquiring an additional 13,217 shares during the period. State of Wyoming’s holdings in Cinemark were worth $744,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock valued at $32,000 after buying an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after buying an additional 1,501 shares during the last quarter. R Squared Ltd bought a new position in Cinemark during the fourth quarter valued at approximately $63,000. Quarry LP boosted its stake in Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock valued at $65,000 after buying an additional 623 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Cinemark by 198.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock valued at $103,000 after buying an additional 2,207 shares during the last quarter.

Insider Buying and Selling

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 value of $246,213.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the transaction, the executive vice president now directly owns 210,968 shares in the company, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on CNK shares. Wedbush reissued a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Monday, April 28th. Wells Fargo & Company decreased their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Macquarie restated an “outperform” rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Benchmark decreased their price objective on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price objective on Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.20.

Cinemark Trading Down 0.2%

Shares of NYSE CNK opened at $31.82 on Monday. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The business’s 50 day moving average price is $27.67 and its 200-day moving average price is $29.47. Cinemark Holdings, Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $36.28. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 15.67 and a beta of 1.91.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. During the same period in the prior year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, sell-side analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 1.01%. Cinemark’s dividend payout ratio (DPR) is currently 21.05%.

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.