Cinemark Holdings, Inc. (NYSE:CNK) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,272,312 shares of the company's stock after buying an additional 158,130 shares during the period. Northern Trust Corp owned 1.04% of Cinemark worth $39,416,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CNK. Russell Investments Group Ltd. increased its position in shares of Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after purchasing an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings 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 worth $59,000 after buying an additional 1,501 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Cinemark in the fourth quarter valued at about $63,000. Quarry LP boosted its position in Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after acquiring an additional 623 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in 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 acquiring an additional 906 shares in the last quarter.

Cinemark Stock Up 0.8 %

Shares of NYSE CNK opened at $31.25 on Friday. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The business's 50 day moving average is $26.96 and its two-hundred day moving average is $29.40. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 15.39 and a beta of 1.91. 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 (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.32). The firm had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. Cinemark's revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Research analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The firm also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is currently 21.05%.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now owns 147,414 shares in the company, valued at $3,980,178. This represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CNK. Wells Fargo & Company lowered their target price on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Morgan Stanley dropped their target price on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Macquarie reiterated an "outperform" rating and set a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. Wedbush reissued a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. Finally, Benchmark reduced their target price on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.80.

About Cinemark

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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