AQR Capital Management LLC Raises Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

AQR Capital Management LLC grew its holdings in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 111.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 438,454 shares of the company's stock after acquiring an additional 231,520 shares during the period. AQR Capital Management LLC owned about 0.36% of Cinemark worth $13,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after purchasing an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in shares of 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 shares of Cinemark during the fourth quarter worth $63,000. Quarry LP grew 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 acquiring an additional 623 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Cinemark by 44.9% during the fourth 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Benchmark decreased their price target on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a report on Monday. Morgan Stanley reduced 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. Wells Fargo & Company lowered their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Finally, Wedbush reissued a "neutral" rating and set a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cinemark currently has an average rating of "Moderate Buy" and an average price target of $32.80.

Insiders Place Their Bets

In other 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 value of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company's stock.

Cinemark Trading Down 1.7 %

NYSE CNK opened at $29.79 on Tuesday. The stock has a market cap of $3.51 billion, a PE ratio of 14.68 and a beta of 1.91. Cinemark Holdings, Inc. has a 12 month low of $16.32 and a 12 month high of $36.28. The company's 50-day moving average price is $26.47 and its 200-day moving average price is $29.34. 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 (NYSE:CNK - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting analysts' consensus estimates of ($0.32). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business 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 firm earned $0.19 EPS. The company's revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The company also recently announced 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 of this dividend was Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is presently 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.

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