Hennessy Advisors Inc. Has $45.10 Million Position in Cinemark Holdings, Inc. (NYSE:CNK)

Hennessy Advisors Inc. lessened its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,812,100 shares of the company's stock after selling 177,200 shares during the period. Cinemark makes up 1.5% of Hennessy Advisors Inc.'s portfolio, making the stock its 14th biggest position. Hennessy Advisors Inc. owned approximately 1.54% of Cinemark worth $45,103,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CNK. Elequin Capital LP increased its holdings in shares of Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after acquiring an additional 677 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after acquiring an additional 825 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in shares of Cinemark by 380.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after acquiring an additional 1,501 shares during the period. Quarry LP grew its position in Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after buying an additional 623 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Cinemark by 198.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock valued at $103,000 after buying an additional 2,207 shares in the last quarter.

Cinemark Trading Up 0.9%

Shares of CNK traded up $0.29 during midday trading on Friday, hitting $32.12. The stock had a trading volume of 5,753,549 shares, compared to its average volume of 3,081,642. Cinemark Holdings, Inc. has a fifty-two week low of $18.46 and a fifty-two week high of $36.28. The business has a 50-day simple moving average of $30.53 and a two-hundred day simple moving average of $29.53. The firm has a market cap of $3.69 billion, a P/E ratio of 15.82 and a beta of 1.93. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company had revenue of $540.70 million during the quarter, compared to analysts' expectations of $604.62 million. During the same period last year, the company posted $0.19 earnings per share. The business's revenue for the quarter was down 6.6% on a year-over-year basis. As a group, equities analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, May 29th. Cinemark's payout ratio is 21.05%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Benchmark decreased their target price on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. B. Riley assumed coverage on shares of Cinemark in a research report on Friday, May 16th. They issued a "neutral" rating and a $35.00 target price for the company. Barrington Research reiterated an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. Macquarie reiterated an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. Finally, Morgan Stanley decreased their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report 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 given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.20.

Insiders Place Their Bets

In related news, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the sale, the insider now directly owns 130,612 shares in the company, valued at approximately $4,311,502.12. This trade represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of the firm'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 sale, the executive vice president now owns 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.