Balyasny Asset Management L.P. Sells 612,826 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Balyasny Asset Management L.P. reduced its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 32.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,299,028 shares of the company's stock after selling 612,826 shares during the period. Balyasny Asset Management L.P. owned about 1.06% of Cinemark worth $40,244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CNK. Arrowstreet Capital Limited Partnership boosted its holdings in Cinemark by 100.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock worth $127,159,000 after buying an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP raised its position in shares of Cinemark by 48.1% during the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock worth $152,782,000 after purchasing an additional 1,601,537 shares during the period. Norges Bank bought a new position in shares of Cinemark during the 4th quarter valued at about $25,623,000. Wealthfront Advisers LLC acquired a new position in shares of Cinemark in the 4th quarter valued at approximately $13,704,000. Finally, Renaissance Technologies LLC lifted its stake in Cinemark by 12.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock valued at $117,773,000 after buying an additional 430,006 shares in the last quarter.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the transaction, the insider now directly owns 147,414 shares of the company's stock, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their position. The sale 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.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Benchmark cut their price objective on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Macquarie restated an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research note on Thursday, February 20th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Morgan Stanley dropped their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have given 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.80.

Cinemark Trading Up 0.8 %

Shares of Cinemark stock traded up $0.24 during trading hours on Friday, hitting $31.25. The company's stock had a trading volume of 2,176,305 shares, compared to its average volume of 3,023,516. The firm has a fifty day moving average of $26.96 and a 200-day moving average of $29.40. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28. 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 stock has a market cap of $3.59 billion, a price-to-earnings ratio of 15.39 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results 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 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 analysts' expectations of $604.62 million. During the same period in the prior year, the company posted $0.19 EPS. The business's revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The business also recently declared a -- dividend, which was paid on Wednesday, March 19th. Investors 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 dividend payout ratio (DPR) is 21.05%.

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.