Cinemark Holdings, Inc. (NYSE:CNK) is Covalent Partners LLC's 3rd Largest Position

Covalent Partners LLC trimmed its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,000 shares of the company's stock after selling 15,000 shares during the period. Cinemark makes up about 7.9% of Covalent Partners LLC's investment portfolio, making the stock its 3rd largest holding. Covalent Partners LLC owned 0.06% of Cinemark worth $2,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dynamic Technology Lab Private Ltd grew its position in Cinemark by 26.9% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 152,400 shares of the company's stock worth $4,722,000 after purchasing an additional 32,310 shares during the period. KBC Group NV grew its holdings in shares of Cinemark by 470.1% in the fourth quarter. KBC Group NV now owns 16,920 shares of the company's stock worth $524,000 after acquiring an additional 13,952 shares during the period. Franklin Resources Inc. increased its position in Cinemark by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 70,964 shares of the company's stock valued at $2,198,000 after acquiring an additional 14,207 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Cinemark by 18.8% in the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company's stock valued at $17,533,000 after acquiring an additional 99,843 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Cinemark by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after acquiring an additional 109,179 shares during the period.

Insider Activity

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 147,414 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company's stock.

Cinemark Price Performance

CNK traded up $0.24 on Friday, hitting $31.25. 2,176,305 shares of the company's stock traded hands, compared to its average volume of 3,023,516. The company's 50 day simple moving average is $26.96 and its 200-day simple moving average is $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. Cinemark Holdings, Inc. has a one year low of $16.32 and a one year high of $36.28. The firm has a market cap of $3.59 billion, a price-to-earnings 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, meeting the consensus estimate of ($0.32). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm had revenue of $540.70 million for the quarter, compared to analysts' expectations of $604.62 million. During the same quarter last year, the business posted $0.19 earnings per share. The company's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, research analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of 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 reiterated an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research report on Monday, May 5th. Wedbush reissued a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a research report on Monday, April 28th. Macquarie reaffirmed an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Finally, Benchmark lowered their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.