Fox Run Management L.L.C. Purchases New Shares in Cinemark Holdings Inc $CNK

Key Points

• Fox Run Management L.L.C. acquired 47,699 shares of Cinemark Holdings Inc valued at approximately $1.187 million during the first quarter.
• Several analysts have rated Cinemark as a "Moderate Buy," with a consensus price target of $33.67 following upgrades from firms like JPMorgan Chase and Wedbush.
• Cinemark announced a quarterly dividend of $0.08 per share, reflecting a 1.3% dividend yield and a payout ratio of 17.49%.

Fox Run Management L.L.C. bought a new position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 47,699 shares of the company's stock, valued at approximately $1,187,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Candlestick Capital Management LP raised its stake in shares of 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 acquiring an additional 1,601,537 shares in the last quarter. Nuveen LLC acquired a new position in Cinemark during the 1st quarter worth $32,297,000. Simcoe Capital Management LLC purchased a new stake in Cinemark during the 4th quarter worth about $37,763,000. Man Group plc purchased a new stake in Cinemark during the 4th quarter worth about $28,040,000. Finally, Assenagon Asset Management S.A. raised its position in Cinemark by 215.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,251,219 shares of the company's stock valued at $31,143,000 after purchasing an additional 854,540 shares in the last quarter.

Cinemark Stock Up 0.6%

CNK traded up $0.1580 on Wednesday, reaching $26.6280. The company's stock had a trading volume of 3,176,209 shares, compared to its average volume of 4,702,953. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 1.89 and a beta of 1.90. Cinemark Holdings Inc has a fifty-two week low of $23.12 and a fifty-two week high of $36.28. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. The stock has a 50 day moving average of $28.90 and a two-hundred day moving average of $28.76.

Cinemark (NYSE:CNK - Get Free Report) last released 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). The company had revenue of $940.50 million for the quarter, compared to analyst estimates of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The firm's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. As a group, analysts forecast that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

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

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the transaction, the insider owned 130,612 shares in the company, valued at $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Wanda Marie Gierhart sold 52,524 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the sale, the insider directly owned 94,890 shares of the company's stock, valued at $3,022,246.50. The trade was a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,724 shares of company stock worth $2,679,363 over the last 90 days. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CNK. Wedbush raised Cinemark from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $32.00 to $37.00 in a research report on Friday, July 11th. Roth Capital decreased their price target on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Cinemark in a report on Thursday, July 10th. They set a "buy" rating and a $36.00 price target for the company. Wells Fargo & Company restated an "overweight" rating and issued a $33.00 price objective (down from $36.00) on shares of Cinemark in a report on Monday, August 4th. Finally, Benchmark reaffirmed a "buy" rating and set a $35.00 price objective on shares of Cinemark in a research report on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.67.

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.