Sora Investors LLC Increases Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Sora Investors LLC raised its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 302.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,899 shares of the company's stock after purchasing an additional 120,899 shares during the period. Sora Investors LLC owned approximately 0.13% of Cinemark worth $4,985,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after purchasing an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd grew its stake 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 valued at about $63,000. Quarry LP grew its stake in shares of 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 buying an additional 623 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Cinemark by 198.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock valued at $103,000 after buying an additional 2,207 shares during the last quarter.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark 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 transaction, the insider now directly owns 147,414 shares in the company, valued at approximately $3,980,178. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the transaction, the executive vice president now owns 210,968 shares of the company's stock, valued at $6,630,724.24. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

CNK has been the topic of a number of recent research reports. Wedbush reaffirmed a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a research note on Monday, April 28th. B. Riley initiated coverage on Cinemark in a research note on Friday. They set a "neutral" rating and a $35.00 price objective on the stock. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research note on Monday, May 5th. Benchmark reduced their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Finally, Macquarie reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cinemark currently has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Cinemark Stock Down 0.5%

Cinemark stock traded down $0.17 during trading hours on Monday, hitting $31.67. 2,378,986 shares of the stock traded hands, compared to its average volume of 2,989,747. The firm's 50-day moving average price is $27.82 and its two-hundred day moving average price is $29.48. 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 cap of $3.64 billion, a PE ratio of 15.60 and a beta of 1.91. Cinemark Holdings, Inc. has a one year low of $16.32 and a one year high of $36.28.

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, meeting the consensus estimate of ($0.32). The business had revenue of $540.70 million for the quarter, compared to analysts' expectations of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business's revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. On average, research analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 1.01%. Cinemark's payout ratio is 21.05%.

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.