Cinctive Capital Management LP Purchases 37,884 Shares of Cinemark Holdings Inc $CNK

Key Points

• Cinctive Capital Management LP increased its holdings in Cinemark Holdings Inc by 20.2%, owning approximately 224,980 shares valued at $5.6 million as of the first quarter.
• Recent earnings reports indicate that Cinemark missed analysts' consensus estimates for EPS, reporting $0.63 instead of the expected $0.78, despite a 28.1% revenue increase year-over-year.
• Wall Street analysts have a generally positive outlook on Cinemark, with an average rating of "Moderate Buy" and a consensus target price of approximately $33.67, though individual brokerages have set varied price targets.

Cinctive Capital Management LP raised its position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 224,980 shares of the company's stock after purchasing an additional 37,884 shares during the quarter. Cinctive Capital Management LP owned 0.20% of Cinemark worth $5,600,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Covalent Partners LLC increased its stake in shares of Cinemark by 74.3% in the 1st quarter. Covalent Partners LLC now owns 122,000 shares of the company's stock worth $3,037,000 after acquiring an additional 52,000 shares during the last quarter. Boothbay Fund Management LLC increased its position in shares of Cinemark by 14.6% during the first quarter. Boothbay Fund Management LLC now owns 349,055 shares of the company's stock worth $8,688,000 after purchasing an additional 44,354 shares in the last quarter. AQR Capital Management LLC grew its position in Cinemark by 13.5% during the 1st quarter. AQR Capital Management LLC now owns 497,812 shares of the company's stock worth $12,077,000 after purchasing an additional 59,358 shares during the last quarter. Amundi increased its holdings in shares of Cinemark by 115.1% in the first quarter. Amundi now owns 423,102 shares of the company's stock valued at $10,573,000 after purchasing an additional 226,421 shares during the period. Finally, Dark Forest Capital Management LP lifted its stake in shares of Cinemark by 2,933.6% in the 1st quarter. Dark Forest Capital Management LP now owns 240,749 shares of the company's stock worth $5,992,000 after acquiring an additional 232,813 shares during the period.

Cinemark Trading Down 1.3%

Shares of CNK stock traded down $0.35 on Tuesday, hitting $27.12. The stock had a trading volume of 1,373,635 shares, compared to its average volume of 3,922,920. The company has a fifty day moving average price of $27.50 and a two-hundred day moving average price of $28.31. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. Cinemark Holdings Inc has a twelve month low of $23.12 and a twelve month high of $36.28. The firm has a market cap of $3.12 billion, a P/E ratio of 14.81, a PEG ratio of 1.85 and a beta of 1.85.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The business had revenue of $940.50 million for the quarter, compared to the consensus estimate of $942.14 million. During the same period last year, the firm earned $0.32 earnings per share. The company's quarterly revenue was up 28.1% compared to the same quarter last year. As a group, analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.32 annualized dividend and a yield of 1.2%. Cinemark's dividend payout ratio (DPR) is 17.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CNK shares. Wall Street Zen upgraded Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Benchmark reiterated a "buy" rating and issued a $35.00 target price on shares of Cinemark in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Cinemark in a research note on Thursday, July 10th. They set a "buy" rating and a $36.00 price objective on the stock. Wedbush upgraded shares of Cinemark from a "neutral" rating to an "outperform" rating and upped their price target for the company from $32.00 to $37.00 in a research report on Friday, July 11th. Finally, B. Riley started coverage on shares of Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.67.

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the transaction, the executive vice president directly owned 203,768 shares in the company, valued at approximately $5,128,840.56. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanda Marie Gierhart sold 52,524 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 94,890 shares in the company, valued at approximately $3,022,246.50. This represents a 35.63% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

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.