ProShare Advisors LLC Purchases 10,237 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

ProShare Advisors LLC boosted its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 44.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,191 shares of the company's stock after purchasing an additional 10,237 shares during the quarter. ProShare Advisors LLC's holdings in Cinemark were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Man Group plc bought a new position in shares of Cinemark in the fourth quarter worth $28,040,000. Nuveen Asset Management LLC increased its position in shares of Cinemark by 5.0% in the fourth quarter. Nuveen Asset Management LLC now owns 402,442 shares of the company's stock worth $12,468,000 after purchasing an additional 19,238 shares during the last quarter. Numerai GP LLC purchased a new position in Cinemark in the fourth quarter worth $233,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cinemark by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,827 shares of the company's stock worth $1,946,000 after purchasing an additional 2,416 shares during the last quarter. Finally, Moore Capital Management LP purchased a new position in shares of Cinemark in the 4th quarter worth about $4,930,000.

Analyst Ratings Changes

CNK has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, May 5th. B. Riley assumed coverage on shares of Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective for the company. Macquarie reaffirmed an "outperform" rating and issued a $35.00 price objective on shares of Cinemark in a research note on Thursday, February 20th. Barrington Research reiterated an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. Finally, Morgan Stanley lowered their price target on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cinemark currently has an average rating of "Moderate Buy" and a consensus target price of $33.20.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $31.43, for a total value of $226,296.00. Following the sale, the executive vice president now owns 210,968 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Cinemark Trading Down 2.2%

Shares of NYSE:CNK traded down $0.74 on Wednesday, hitting $32.95. The company had a trading volume of 480,811 shares, compared to its average volume of 3,008,945. The firm's 50-day simple moving average is $28.71 and its two-hundred day simple moving average is $29.56. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 16.25 and a beta of 1.91. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business had revenue of $540.70 million during the quarter, compared to analyst estimates of $604.62 million. During the same period last year, the business posted $0.19 earnings per share. Cinemark's quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a $0.08 dividend. The ex-dividend date is Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 0.97%. Cinemark's payout ratio is 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.