47,699 Shares in Cinemark Holdings Inc $CNK Bought by Fox Run Management L.L.C.

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) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 47,699 shares of the company's stock, valued at approximately $1,187,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elequin Capital LP raised its stake in Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after purchasing an additional 677 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after purchasing an additional 825 shares in the last quarter. Quarry LP raised its stake in 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 purchasing an additional 623 shares in the last quarter. CWM LLC raised its stake in Cinemark by 20.6% in the first quarter. CWM LLC now owns 6,548 shares of the company's stock valued at $163,000 after purchasing an additional 1,118 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Cinemark in the fourth quarter valued at about $221,000.

Cinemark Trading Up 1.1%

Shares of Cinemark stock traded up $0.2790 during midday trading on Tuesday, reaching $26.3690. The company had a trading volume of 1,972,233 shares, compared to its average volume of 3,932,470. The stock has a fifty day moving average price of $29.11 and a 200 day moving average price of $28.79. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The firm has a market cap of $3.03 billion, a PE ratio of 14.46, a P/E/G ratio of 1.83 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.

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

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 payout ratio is 17.49%.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the transaction, the insider directly owned 130,612 shares of the company's stock, valued at $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wanda Marie Gierhart sold 52,524 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the transaction, the insider directly owned 94,890 shares in the company, 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. Over the last three months, insiders have sold 84,724 shares of company stock valued at $2,679,363. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CNK has been the subject of a number of analyst reports. Roth Capital dropped their price target on Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen upgraded Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Wells Fargo & Company reiterated an "overweight" rating and issued a $33.00 target price (down previously from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Cinemark in a research report on Thursday, July 10th. They issued a "buy" rating and a $36.00 target price on the stock. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.67.

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.