PharVision Advisers LLC Makes New $277,000 Investment in Cinemark Holdings, Inc. (NYSE:CNK)

PharVision Advisers LLC acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,952 shares of the company's stock, valued at approximately $277,000.

A number of other institutional investors have also recently bought and sold shares of CNK. LPL Financial LLC raised its holdings in Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company's stock valued at $270,000 after acquiring an additional 556 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Cinemark by 3.2% in the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock valued at $549,000 after buying an additional 557 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Cinemark by 3.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock valued at $504,000 after buying an additional 591 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Cinemark by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock valued at $358,000 after buying an additional 618 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Cinemark by 41.8% during the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after acquiring an additional 623 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Benchmark decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. B. Riley began coverage on shares of Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Morgan Stanley decreased their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price target on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $33.20.

Cinemark Trading Up 2.3%

NYSE CNK traded up $0.76 on Tuesday, reaching $33.21. The company had a trading volume of 1,046,543 shares, compared to its average volume of 3,001,694. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 16.37 and a beta of 1.91. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $36.28. The business has a 50 day moving average of $28.57 and a two-hundred day moving average of $29.53.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, meeting the consensus estimate of ($0.32). The company had revenue of $540.70 million during the quarter, compared to analysts' expectations of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business's quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. 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 will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, May 29th. Cinemark's dividend payout ratio is presently 21.05%.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction on Thursday, May 15th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company's stock.

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.