Aristeia Capital L.L.C. Makes New $290,000 Investment in Cinemark Holdings, Inc. (NYSE:CNK)

Aristeia Capital L.L.C. bought a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,373 shares of the company's stock, valued at approximately $290,000.

Several other large investors also recently added to or reduced their stakes in CNK. LPL Financial LLC increased its position in shares of Cinemark by 6.8% in the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company's stock valued at $270,000 after acquiring an additional 556 shares during the period. QRG Capital Management Inc. boosted its stake in Cinemark by 3.2% in the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock worth $549,000 after purchasing an additional 557 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Cinemark by 3.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock valued at $504,000 after purchasing an additional 591 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Cinemark by 5.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock valued at $358,000 after purchasing an additional 618 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Cinemark by 41.8% during the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after purchasing an additional 623 shares during the period.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction that occurred on 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 trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company's stock.

Cinemark Price Performance

Shares of CNK traded up $0.39 during trading hours on Wednesday, hitting $31.20. 2,954,364 shares of the company were exchanged, compared to its average volume of 3,010,409. The firm has a fifty day simple moving average of $26.58 and a 200-day simple moving average of $29.35. Cinemark Holdings, Inc. has a one year low of $16.32 and a one year high of $36.28. 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 company has a market capitalization of $3.68 billion, a PE ratio of 15.37 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting 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 net margin of 10.16% and a return on equity of 65.83%. The company's quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, sell-side analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNK. Morgan Stanley cut their target price 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 restated an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a report on Monday. JPMorgan Chase & Co. lifted their price target on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Monday. Benchmark lowered their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Finally, Wells Fargo & Company reduced their target price on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cinemark has an average rating of "Moderate Buy" and a consensus price target of $32.80.

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.