Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by Boothbay Fund Management LLC

Boothbay Fund Management LLC cut its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 96.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 304,701 shares of the company's stock after selling 7,513,603 shares during the period. Boothbay Fund Management LLC owned about 0.25% of Cinemark worth $9,440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in Cinemark by 402.4% in the fourth 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 lifted its position in Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock valued at $59,000 after acquiring an additional 1,501 shares during the last quarter. R Squared Ltd purchased a new stake in Cinemark in the fourth quarter valued at $63,000. GAMMA Investing LLC lifted its position in Cinemark by 44.9% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $91,000 after acquiring an additional 906 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Cinemark by 198.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock valued at $103,000 after acquiring an additional 2,207 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Benchmark reduced 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. Barrington Research reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Cinemark in a report on Wednesday, February 19th. Morgan Stanley reduced their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. raised shares of Cinemark from a "neutral" rating to an "overweight" rating and upped their target price for the company from $30.00 to $34.00 in a report on Friday, April 11th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.10.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the sale, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. This 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 available through the SEC website. Company insiders own 2.10% of the company's stock.

Cinemark Price Performance

CNK traded down $0.11 on Thursday, hitting $29.80. 2,242,742 shares of the company were exchanged, compared to its average volume of 3,591,485. 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 business's fifty day moving average is $26.27 and its 200 day moving average is $29.31. Cinemark Holdings, Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $36.28. The firm has a market capitalization of $3.51 billion, a P/E ratio of 14.68 and a beta of 2.07.

Cinemark (NYSE:CNK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company's quarterly revenue was up 27.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The business also recently announced a -- dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark's payout ratio is currently 15.76%.

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.