ProShare Advisors LLC Has $1.03 Million Stake in Cinemark Holdings, Inc. (NYSE:CNK)

ProShare Advisors LLC lifted its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 44.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,191 shares of the company's stock after acquiring an additional 10,237 shares during the period. ProShare Advisors LLC's holdings in Cinemark were worth $1,028,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CNK. Arrowstreet Capital Limited Partnership boosted its stake in shares of Cinemark by 100.2% during the fourth 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 last quarter. Candlestick Capital Management LP boosted its stake in shares of Cinemark by 48.1% during the fourth 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 last quarter. Man Group plc acquired a new stake in shares of Cinemark during the fourth quarter valued at $28,040,000. Norges Bank acquired a new stake in shares of Cinemark during the fourth quarter valued at $25,623,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Cinemark during the fourth quarter valued at $13,704,000.

Cinemark Trading Up 2.8%

Shares of NYSE CNK traded up $0.90 during mid-day trading on Tuesday, hitting $33.35. 2,154,436 shares of the company traded hands, compared to its average volume of 3,006,280. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 16.43 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 quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. 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 posted 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 firm 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%. Cinemark's quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. On average, sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The firm also recently declared 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. This represents a $0.32 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, May 29th. Cinemark's payout ratio is 21.05%.

Insider Activity at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the transaction, the executive vice president now directly owns 210,968 shares of the company's stock, valued at $6,630,724.24. This represents a 3.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CNK has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wedbush reissued a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research note on Monday, April 28th. Barrington Research reissued an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research note on Monday, May 5th. B. Riley began coverage on Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 price target on the stock. Finally, Benchmark decreased their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.20.

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.