Cinemark Holdings Inc (NYSE:CNK) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 1,677.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,020 shares of the company's stock after purchasing an additional 49,094 shares during the quarter. GAMMA Investing LLC's holdings in Cinemark were worth $1,295,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd boosted its stake in shares of Cinemark by 26.9% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 152,400 shares of the company's stock worth $4,722,000 after buying an additional 32,310 shares during the period. Franklin Resources Inc. raised its stake in Cinemark by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 70,964 shares of the company's stock valued at $2,198,000 after acquiring an additional 14,207 shares during the last quarter. Vanguard Group Inc. lifted its position in Cinemark by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock worth $387,408,000 after acquiring an additional 109,179 shares during the period. Principal Financial Group Inc. lifted its position in Cinemark by 5.2% during the 4th quarter. Principal Financial Group Inc. now owns 662,790 shares of the company's stock worth $20,533,000 after acquiring an additional 33,008 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Cinemark by 81.2% during the fourth quarter. Prudential Financial Inc. now owns 346,525 shares of the company's stock worth $10,735,000 after purchasing an additional 155,243 shares during the last quarter.

Insider Transactions at Cinemark

In related news, insider Wanda Marie Gierhart sold 52,524 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now directly owns 94,890 shares of the company's stock, valued at approximately $3,022,246.50. This trade represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold 84,724 shares of company stock worth $2,724,435 over the last quarter. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CNK has been the topic of several recent analyst reports. Barrington Research reiterated an "outperform" rating and set a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. Benchmark lowered their target price on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Macquarie reiterated an "outperform" rating and set a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. B. Riley initiated coverage on Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price target on the stock. Finally, Wedbush reaffirmed a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Cinemark Price Performance

Shares of CNK traded up $0.12 during trading hours on Thursday, reaching $32.62. 4,467,565 shares of the company traded hands, compared to its average volume of 3,112,924. The stock has a market capitalization of $3.75 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.95 and a beta of 1.93. The stock has a fifty day simple moving average of $30.88 and a 200 day simple moving average of $29.52. Cinemark Holdings Inc has a fifty-two week low of $19.05 and a fifty-two week high of $36.28. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.53.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.32). The company had revenue of $540.70 million for the quarter, compared to analysts' expectations of $604.62 million. Cinemark had a net margin of 8.17% and a return on equity of 51.68%. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. As a group, research analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were 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 was Thursday, May 29th. Cinemark's dividend payout ratio is presently 21.05%.

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.