31,714 Shares in Cinemark Holdings Inc (NYSE:CNK) Acquired by Jennison Associates LLC

Jennison Associates LLC purchased a new stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 31,714 shares of the company's stock, valued at approximately $789,000.

A number of other hedge funds have also recently made changes to their positions in CNK. Arrowstreet Capital Limited Partnership boosted its stake in shares of Cinemark by 100.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after purchasing an additional 2,054,579 shares in the last quarter. Candlestick Capital Management LP boosted its stake in shares of Cinemark by 48.1% during the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock valued at $152,782,000 after purchasing an additional 1,601,537 shares in the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of Cinemark during the fourth quarter valued at about $37,763,000. Man Group plc acquired a new stake in shares of Cinemark during the fourth quarter valued at about $28,040,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Cinemark by 215.4% during the first 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.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the sale, the insider owned 130,612 shares of the company's stock, valued at approximately $4,311,502.12. This represents a 16.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the sale, the executive vice president directly owned 210,968 shares in the company, valued at approximately $6,630,724.24. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,724 shares of company stock valued at $2,724,435. Corporate insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

CNK has been the topic of a number of recent analyst reports. Benchmark reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. B. Riley initiated coverage on Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Roth Capital lowered their target price on Cinemark from $36.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Cinemark in a report on Thursday, July 10th. They issued a "buy" rating and a $36.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Cinemark Stock Performance

NYSE:CNK traded down $1.05 during trading on Thursday, reaching $29.38. The company's stock had a trading volume of 1,537,860 shares, compared to its average volume of 3,811,219. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 2.55 and a beta of 1.88. The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.76 and a current ratio of 0.79. The firm has a 50 day moving average of $31.28 and a 200-day moving average of $29.18. Cinemark Holdings Inc has a 12 month low of $21.17 and a 12 month high of $36.28.

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

Cinemark Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. Cinemark's payout ratio is 21.05%.

Cinemark Company 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.