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

PharVision Advisers LLC acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,952 shares of the company's stock, valued at approximately $277,000.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on CNK. Macquarie reaffirmed an "outperform" rating and set a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Wells Fargo & Company reduced their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Wedbush reissued a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a report on Monday, April 28th. B. Riley began coverage on shares of Cinemark in a report on Friday, May 16th. They set a "neutral" rating and a $35.00 price target for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Cinemark Trading Up 1.6%

Shares of Cinemark stock opened at $32.12 on Thursday. The firm's 50 day moving average is $28.14 and its 200 day moving average is $29.51. The firm has a market capitalization of $3.69 billion, a PE ratio of 15.82 and a beta of 1.91. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28. 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 earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.32). The firm had revenue of $540.70 million for the quarter, compared to analysts' expectations of $604.62 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company's revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Equities research analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. Cinemark's dividend payout ratio is currently 21.05%.

Insiders Place Their Bets

In other news, EVP Melissa Thomas sold 7,200 shares of the firm'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 completion of the transaction, the executive vice president now owns 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the transaction, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. This trade represents a 5.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.30% 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.

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