Aequim Alternative Investments LP Buys 151,545 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Aequim Alternative Investments LP boosted its holdings in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 18.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 959,796 shares of the company's stock after purchasing an additional 151,545 shares during the quarter. Aequim Alternative Investments LP owned approximately 0.78% of Cinemark worth $29,734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CNK. Dynamic Technology Lab Private Ltd raised its stake in shares of Cinemark by 26.9% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 152,400 shares of the company's stock valued at $4,722,000 after purchasing an additional 32,310 shares during the period. KBC Group NV lifted its holdings in Cinemark by 470.1% in the 4th quarter. KBC Group NV now owns 16,920 shares of the company's stock worth $524,000 after buying an additional 13,952 shares in the last quarter. Franklin Resources Inc. boosted its position in Cinemark by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 70,964 shares of the company's stock valued at $2,198,000 after buying an additional 14,207 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Cinemark by 18.8% during the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company's stock worth $17,533,000 after acquiring an additional 99,843 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Cinemark by 0.9% in 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley reduced their target price on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Wedbush reissued a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. JPMorgan Chase & Co. upped their target price on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday. Barrington Research reissued an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a report on Monday. Finally, Macquarie reiterated an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.80.

Cinemark Price Performance

Shares of NYSE CNK traded up $0.12 during mid-day trading on Thursday, reaching $31.29. 809,678 shares of the company traded hands, compared to its average volume of 3,004,274. The stock has a fifty day simple moving average of $26.69 and a 200-day simple moving average of $29.36. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The firm has a market cap of $3.69 billion, a PE ratio of 15.41 and a beta of 1.91. Cinemark Holdings, Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.32). The company had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. Cinemark's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 earnings per share. Equities research analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark's payout ratio is presently 21.05%.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company'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 completion of the sale, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company's stock.

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.