Deutsche Bank AG Purchases 33,758 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Deutsche Bank AG lifted its holdings in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 52.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,516 shares of the company's stock after acquiring an additional 33,758 shares during the period. Deutsche Bank AG owned approximately 0.08% of Cinemark worth $3,052,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CNK. LPL Financial LLC raised its stake in Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company's stock worth $270,000 after purchasing an additional 556 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Cinemark by 3.2% during the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock worth $549,000 after purchasing an additional 557 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Cinemark by 3.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock valued at $504,000 after buying an additional 591 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Cinemark by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock valued at $358,000 after buying an additional 618 shares during the period. Finally, Quarry LP boosted its stake in shares of Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after buying an additional 623 shares during the period.

Analysts Set New Price Targets

Several equities analysts have weighed in on CNK shares. Wells Fargo & Company dropped their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research report on Monday, May 5th. Wedbush reiterated a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a research note on Monday, April 28th. JPMorgan Chase & Co. raised their target price on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Benchmark cut their price target 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. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Cinemark Price Performance

NYSE:CNK traded up $0.06 on Monday, hitting $32.50. The company had a trading volume of 2,536,328 shares, compared to its average volume of 3,009,266. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 16.01 and a beta of 1.91. The firm has a 50 day moving average of $28.57 and a two-hundred day moving average of $29.53.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting analysts' consensus estimates of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $540.70 million during the quarter, compared to analysts' expectations of $604.62 million. During the same period in the prior year, the company earned $0.19 EPS. Cinemark's revenue was down 6.6% compared to the same quarter last year. On average, research analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, May 29th. Cinemark's payout ratio is 21.05%.

Insider Transactions at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 210,968 shares of the company's stock, valued at $6,630,724.24. This trade represents a 3.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the transaction, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. The trade was a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

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.