Bridgefront Capital LLC Increases Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Bridgefront Capital LLC increased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 70.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,768 shares of the company's stock after purchasing an additional 8,568 shares during the quarter. Bridgefront Capital LLC's holdings in Cinemark were worth $643,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after acquiring an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after purchasing an additional 1,501 shares during the period. R Squared Ltd acquired a new position in Cinemark in the 4th quarter valued at about $63,000. Quarry LP grew its stake in shares of Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after buying an additional 623 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Cinemark by 44.9% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $91,000 after buying an additional 906 shares during the period.

Cinemark Stock Up 0.8 %

NYSE:CNK traded up $0.24 during mid-day trading on Friday, hitting $31.25. The stock had a trading volume of 2,176,305 shares, compared to its average volume of 3,023,516. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28. The stock has a 50-day simple moving average of $26.96 and a two-hundred day simple moving average of $29.40. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The company has a market capitalization of $3.59 billion, a PE ratio of 15.39 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts' expectations of $604.62 million. During the same period in the previous year, the company earned $0.19 EPS. The company's revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on CNK. Morgan Stanley lowered their price objective on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Barrington Research reissued an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research report on Monday, May 5th. Macquarie reaffirmed an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. Benchmark dropped their target price 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. Finally, Wedbush restated a "neutral" rating and set a $32.00 price target 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 given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.80.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction that occurred 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 transaction, the insider now owns 147,414 shares of the company's stock, valued at $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Cinemark 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.