Cinemark Holdings Inc (NYSE:CNK) Stock Position Increased by Principal Financial Group Inc.

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

A number of other institutional investors and hedge funds have also recently modified their holdings of CNK. Elequin Capital LP lifted its stake in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after acquiring an additional 677 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of 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 acquiring an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in shares of 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 acquiring an additional 1,501 shares during the last quarter. Quarry LP lifted its stake 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 last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Cinemark during the 4th quarter worth approximately $183,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNK. Wedbush raised Cinemark from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $32.00 to $37.00 in a research report on Friday. B. Riley began coverage on Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Benchmark reaffirmed a "buy" rating and set a $35.00 target price on shares of Cinemark in a research report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Cinemark in a research report on Thursday, July 10th. They set a "buy" rating and a $36.00 target price for the company. One investment 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Cinemark Trading Down 0.4%

CNK stock traded down $0.13 during mid-day trading on Tuesday, hitting $29.72. 2,794,286 shares of the company were exchanged, compared to its average volume of 3,238,671. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.53. The firm has a market capitalization of $3.42 billion, a P/E ratio of 19.55, a PEG ratio of 1.82 and a beta of 1.88. The business has a fifty day simple moving average of $31.41 and a 200-day simple moving average of $29.21. Cinemark Holdings Inc has a 12-month low of $20.43 and a 12-month high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) EPS 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 analyst estimates of $604.62 million. During the same quarter last year, the firm posted $0.19 earnings per share. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts predict that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.08%. Cinemark's dividend payout ratio (DPR) is presently 21.05%.

Insider Buying and Selling at Cinemark

In other news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on 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 owned 210,968 shares of the company's stock, valued at $6,630,724.24. This 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 available at this hyperlink. Also, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the sale, the insider directly owned 130,612 shares of the company's stock, valued at $4,311,502.12. The trade was a 16.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,724 shares of company stock valued at $2,724,435. 2.10% of the stock is owned by company insiders.

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.