Schonfeld Strategic Advisors LLC Increases Position in Cinemark Holdings, Inc. (NYSE:CNK)

Schonfeld Strategic Advisors LLC grew its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 112.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,570 shares of the company's stock after buying an additional 98,273 shares during the period. Schonfeld Strategic Advisors LLC owned 0.15% of Cinemark worth $5,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNK. Arrowstreet Capital Limited Partnership increased its position in shares of Cinemark by 100.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock worth $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP lifted its holdings in Cinemark by 48.1% in the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock valued at $152,782,000 after acquiring an additional 1,601,537 shares during the period. Norges Bank acquired a new position in shares of Cinemark during the 4th quarter worth $25,623,000. Wealthfront Advisers LLC acquired a new position in shares of Cinemark in the fourth quarter valued at approximately $13,704,000. Finally, Renaissance Technologies LLC boosted its holdings 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 acquiring an additional 430,006 shares during the last quarter.

Insider Activity

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the sale, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

CNK has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday. Wells Fargo & Company lowered their price target 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 cut their price objective on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Benchmark reduced their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Wedbush restated a "neutral" rating and issued 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cinemark presently has an average rating of "Moderate Buy" and an average price target of $32.80.

Cinemark Stock Down 0.0 %

NYSE:CNK traded down $0.00 on Thursday, hitting $31.17. The stock had a trading volume of 631,925 shares, compared to its average volume of 3,003,567. 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 52 week low of $16.32 and a 52 week high of $36.28. The business's fifty day moving average is $26.69 and its 200 day moving average is $29.36. The company has a market cap of $3.68 billion, a PE ratio of 15.37 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly 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). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. Cinemark's revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently declared a -- dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. 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.