Principal Financial Group Inc. Has $16.96 Million Stock Holdings in Cinemark Holdings Inc (NYSE:CNK)

Principal Financial Group Inc. lifted its position in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 681,435 shares of the company's stock after acquiring an additional 18,645 shares during the period. Principal Financial Group Inc. owned approximately 0.58% of Cinemark worth $16,961,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Elequin Capital LP increased its stake in Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after purchasing an additional 677 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after purchasing an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in Cinemark by 380.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after purchasing an additional 1,501 shares in the last quarter. Quarry LP increased its stake in Cinemark by 41.8% during the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after purchasing an additional 623 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Cinemark during the 4th quarter worth approximately $183,000.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 52,524 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the transaction, the insider directly owned 94,890 shares of the company's stock, valued at approximately $3,022,246.50. This trade represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the transaction, the insider directly owned 130,612 shares of the company's stock, valued at $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,724 shares of company stock valued at $2,724,435. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CNK has been the subject of a number of research reports. Benchmark reissued a "buy" rating and set a $35.00 target price on shares of Cinemark in a research note on Wednesday, July 2nd. Barrington Research reissued an "outperform" rating and set a $36.00 target price on shares of Cinemark in a research note 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 research note on Wednesday. B. Riley initiated coverage on shares of Cinemark in a research note on Friday, May 16th. They set a "neutral" rating and a $35.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cinemark in a research note on Thursday. They set a "buy" rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.00.

Cinemark Price Performance

NYSE:CNK opened at $29.80 on Friday. Cinemark Holdings Inc has a 1-year low of $20.43 and a 1-year high of $36.28. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 5.53. The firm has a fifty day simple moving average of $31.41 and a 200 day simple moving average of $29.23. The stock has a market capitalization of $3.43 billion, a PE ratio of 19.61, a P/E/G ratio of 1.82 and a beta of 1.88.

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

Cinemark Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a $0.08 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. Cinemark's dividend payout ratio is presently 21.05%.

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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