Nuveen Asset Management LLC Boosts Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Nuveen Asset Management LLC raised its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 402,442 shares of the company's stock after purchasing an additional 19,238 shares during the quarter. Nuveen Asset Management LLC owned 0.33% of Cinemark worth $12,468,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CNK. Vanguard Group Inc. increased its position in Cinemark by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after acquiring an additional 109,179 shares during the last quarter. Candlestick Capital Management LP grew its stake in Cinemark by 48.1% in the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock valued at $152,782,000 after acquiring an additional 1,601,537 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after acquiring an additional 2,054,579 shares during the period. Renaissance Technologies LLC grew its stake in Cinemark by 12.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock valued at $117,773,000 after acquiring an additional 430,006 shares during the period. Finally, Marshall Wace LLP grew its stake in Cinemark by 14.5% in the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company's stock valued at $96,807,000 after acquiring an additional 396,720 shares during the period.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the transaction, the insider now owns 130,612 shares of the company's stock, valued at approximately $4,311,502.12. This trade represents a 16.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $226,296.00. Following the completion of the transaction, the executive vice president now directly owns 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. Corporate insiders own 2.10% of the company's stock.

Cinemark Stock Performance

CNK traded up $0.80 on Friday, hitting $33.76. 2,969,920 shares of the stock traded hands, compared to its average volume of 3,018,442. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28. The firm has a market capitalization of $3.88 billion, a PE ratio of 16.63 and a beta of 1.91. The business has a fifty day moving average price of $29.17 and a two-hundred day moving average price of $29.58. 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 posted 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 business had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm's revenue was down 6.6% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. On average, research analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, May 29th. Cinemark's dividend payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. B. Riley assumed coverage on Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. Morgan Stanley lowered their price objective on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Benchmark lowered their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Macquarie reissued an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Finally, Wedbush reissued a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.20.

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.