Axa S.A. Trims Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Axa S.A. cut its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 118,898 shares of the company's stock after selling 50,269 shares during the period. Axa S.A. owned approximately 0.10% of Cinemark worth $3,683,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CNK. Dynamic Technology Lab Private Ltd boosted its position 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 buying an additional 32,310 shares during the period. KBC Group NV lifted its stake in shares of Cinemark by 470.1% during the 4th quarter. KBC Group NV now owns 16,920 shares of the company's stock worth $524,000 after acquiring an additional 13,952 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Cinemark by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 70,964 shares of the company's stock valued at $2,198,000 after acquiring an additional 14,207 shares during the period. Principal Financial Group Inc. grew its position in Cinemark by 18.8% in the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company's stock valued at $17,533,000 after acquiring an additional 99,843 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 purchasing an additional 109,179 shares during the period.

Cinemark Price Performance

Shares of CNK opened at $31.20 on Thursday. The company has a 50 day moving average of $26.69 and a two-hundred day moving average of $29.36. 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 company has a market cap of $3.68 billion, a price-to-earnings ratio of 15.37 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $604.62 million. During the same quarter last year, the firm earned $0.19 EPS. The business's quarterly revenue was down 6.6% on a year-over-year basis. As a group, analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Stockholders 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 (DPR) is currently 21.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNK shares. Wedbush reaffirmed a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research note on Monday, April 28th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price target on shares of Cinemark in a research note on Monday. Benchmark reduced their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Macquarie reiterated an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price target on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $32.80.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by insiders.

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.

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