Royal Bank of Canada Has $39.87 Million Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Royal Bank of Canada lessened its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,287,086 shares of the company's stock after selling 79,800 shares during the quarter. Royal Bank of Canada owned about 1.05% of Cinemark worth $39,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Cinemark by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after buying an additional 109,179 shares during the last quarter. Candlestick Capital Management LP lifted its stake in Cinemark by 48.1% in the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock valued at $152,782,000 after buying an additional 1,601,537 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after buying an additional 2,054,579 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Cinemark by 12.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock valued at $117,773,000 after buying an additional 430,006 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Cinemark by 14.5% in the fourth quarter. Marshall Wace LLP now owns 3,124,834 shares of the company's stock valued at $96,807,000 after buying an additional 396,720 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports 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 target price on the stock. Macquarie reiterated an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. Wells Fargo & Company cut their target price on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Barrington Research reiterated an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a research note on Monday, May 5th. Finally, Benchmark cut their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. One equities 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's stock. According to data from MarketBeat, Cinemark presently has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Cinemark Stock Performance

Shares of NYSE CNK traded up $0.90 during midday trading on Tuesday, reaching $33.35. 2,154,436 shares of the company traded hands, compared to its average volume of 3,006,280. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28. The stock has a 50-day moving average price of $28.57 and a 200 day moving average price of $29.53. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 16.43 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, hitting analysts' consensus estimates 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 last year, the business posted $0.19 EPS. Cinemark's revenue was down 6.6% on a year-over-year basis. Sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 0.96%. Cinemark's dividend payout ratio (DPR) is 21.05%.

Insider Activity at Cinemark

In other 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 value of $226,296.00. Following the completion of the sale, the executive vice president now directly owns 210,968 shares in the company, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by insiders.

Cinemark Company 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.