Cinemark Holdings, Inc. (NYSE:CNK) Position Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 215.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,251,219 shares of the company's stock after acquiring an additional 854,540 shares during the period. Assenagon Asset Management S.A. owned approximately 1.06% of Cinemark worth $31,143,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Elequin Capital LP boosted its position in shares of Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after buying an additional 677 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after buying an additional 825 shares during the period. Aster Capital Management DIFC Ltd boosted its position in shares of Cinemark by 380.0% in 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 during the period. Quarry LP boosted its position in shares of Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after buying an additional 623 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Cinemark by 198.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock worth $103,000 after buying an additional 2,207 shares during the period.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 52,524 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the sale, the insider now directly owns 94,890 shares in the company, valued at approximately $3,022,246.50. This represents a 35.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the sale, the executive vice president now owns 210,968 shares in the company, 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. In the last ninety days, insiders have sold 84,724 shares of company stock worth $2,724,435. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on CNK shares. B. Riley started coverage on Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 price target on the stock. Morgan Stanley cut their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Benchmark cut their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Macquarie reiterated an "outperform" rating and issued a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. Finally, Barrington Research reiterated an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued 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 a consensus price target of $33.20.

Cinemark Stock Down 0.7%

NYSE CNK traded down $0.22 on Monday, hitting $31.92. 3,336,398 shares of the stock traded hands, compared to its average volume of 3,082,661. The stock has a 50-day moving average of $30.53 and a 200 day moving average of $29.50. Cinemark Holdings, Inc. has a twelve month low of $18.46 and a twelve month high of $36.28. The company has a market capitalization of $3.67 billion, a P/E ratio of 15.72 and a beta of 1.93. 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 (NYSE:CNK - Get Free Report) last announced 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 return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $540.70 million for the quarter, compared to analysts' expectations of $604.62 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Cinemark's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Thursday, May 29th. Cinemark's payout ratio is 21.05%.

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.