Assetmark Inc. Makes New Investment in Cinemark Holdings Inc (NYSE:CNK)

Assetmark Inc. purchased a new position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 144,128 shares of the company's stock, valued at approximately $3,587,000. Assetmark Inc. owned about 0.12% of Cinemark as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Cinemark by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock worth $387,408,000 after buying an additional 109,179 shares during the period. Candlestick Capital Management LP boosted its holdings in Cinemark by 48.1% in the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock valued at $152,782,000 after purchasing an additional 1,601,537 shares during the period. Renaissance Technologies LLC boosted its holdings in Cinemark by 12.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock valued at $117,773,000 after purchasing an additional 430,006 shares during the period. Marshall Wace LLP boosted its holdings in Cinemark by 14.5% in the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company's stock valued at $96,807,000 after purchasing an additional 396,720 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Cinemark by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,959,183 shares of the company's stock valued at $91,676,000 after purchasing an additional 34,402 shares during the period.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total transaction of $825,250.00. Following the sale, the insider owned 130,612 shares of the company's stock, valued at approximately $4,311,502.12. The trade was a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Melissa Thomas sold 7,200 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total transaction of $226,296.00. Following the sale, the executive vice president directly owned 210,968 shares in the company, valued at approximately $6,630,724.24. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,724 shares of company stock worth $2,724,435 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CNK. Wedbush raised shares of Cinemark from a "neutral" rating to an "outperform" rating and raised their price target for the company from $32.00 to $37.00 in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cinemark in a report on Thursday, July 10th. They set a "buy" rating and a $36.00 price objective for the company. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a report on Monday, May 5th. B. Riley initiated coverage on shares of Cinemark in a report on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Cinemark Trading Down 3.9%

Shares of CNK stock traded down $1.05 during trading hours on Friday, reaching $25.82. 7,274,735 shares of the stock were exchanged, compared to its average volume of 3,874,895. Cinemark Holdings Inc has a 12-month low of $23.12 and a 12-month high of $36.28. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 5.53. The company's 50-day moving average price is $30.81 and its 200-day moving average price is $29.08. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 2.31 and a beta of 1.88.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.15). Cinemark had a net margin of 8.17% and a return on equity of 51.68%. The company had revenue of $940.50 million for the quarter, compared to the consensus estimate of $942.14 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company's quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. 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.