Inspire Investing LLC Grows Stock Holdings in Cinemark Holdings Inc $CNK

Key Points

• Inspire Investing LLC significantly raised its position in Cinemark Holdings Inc by 605.1% during Q1, now owning approximately $2,562,000 worth of shares.
• Several financial analysts have assigned a "buy" rating to Cinemark, with target prices ranging from $33.00 to $36.00, indicating a generally optimistic outlook for the stock.
• Cinemark recently declared a quarterly dividend of $0.08 per share, reflecting a 1.1% yield and a payout ratio of 17.49%.

Inspire Investing LLC grew its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 605.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,936 shares of the company's stock after purchasing an additional 88,338 shares during the quarter. Inspire Investing LLC owned approximately 0.09% of Cinemark worth $2,562,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Elequin Capital LP grew its holdings in 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 last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Cinemark by 242.9% during the first quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company's stock worth $88,000 after purchasing an additional 2,502 shares during the period. CWM LLC increased its holdings in Cinemark by 20.6% during the 1st quarter. CWM LLC now owns 6,548 shares of the company's stock valued at $163,000 after purchasing an additional 1,118 shares during the period. Mackenzie Financial Corp bought a new position in Cinemark during the 4th quarter valued at approximately $221,000. Finally, Numerai GP LLC bought a new position in Cinemark during the 4th quarter valued at approximately $233,000.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction on Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the completion of the sale, the executive vice president owned 203,768 shares of the company's stock, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNK. Roth Capital reduced their target price on Cinemark from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Wall Street Zen raised shares of Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Wedbush raised shares of Cinemark from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $32.00 to $37.00 in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cinemark in a research note on Thursday, July 10th. They set a "buy" rating and a $36.00 target price on the stock. Finally, Benchmark reissued a "buy" rating and issued a $35.00 price target on shares of Cinemark in a research note on Wednesday, July 2nd. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.67.

Cinemark Stock Down 1.5%

Shares of NYSE:CNK traded down $0.42 on Wednesday, hitting $28.14. 1,100,369 shares of the company traded hands, compared to its average volume of 3,905,420. The stock has a 50 day simple moving average of $27.21 and a 200-day simple moving average of $28.37. 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 company has a market cap of $3.24 billion, a PE ratio of 15.31, a PEG ratio of 2.04 and a beta of 1.85. Cinemark Holdings Inc has a 52 week low of $23.12 and a 52 week high of $36.28.

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

Cinemark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, August 27th. Cinemark's payout ratio is presently 17.49%.

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.