State of Wyoming Has $744,000 Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

State of Wyoming increased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 122.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,013 shares of the company's stock after buying an additional 13,217 shares during the quarter. State of Wyoming's holdings in Cinemark were worth $744,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after buying an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings in shares of Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after buying an additional 1,501 shares in the last quarter. R Squared Ltd bought a new position in shares of Cinemark during the fourth quarter worth about $63,000. Quarry LP grew its holdings in shares of Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after buying an additional 623 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Cinemark by 198.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock worth $103,000 after buying an additional 2,207 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNK. 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 for the company. JPMorgan Chase & Co. raised their price target on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Morgan Stanley decreased their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Barrington Research restated an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research note on Monday, May 5th. Finally, Benchmark decreased their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.20.

Cinemark Stock Performance

CNK traded up $0.06 during trading on Friday, hitting $32.50. The stock had a trading volume of 2,536,328 shares, compared to its average volume of 3,009,266. The company has a 50 day moving average price of $28.44 and a 200-day moving average price of $29.54. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 16.01 and a beta of 1.91. Cinemark Holdings, Inc. has a one year low of $16.32 and a one year high of $36.28. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). The business had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm's quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. As a group, research analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current 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 0.98%. Cinemark's dividend payout ratio (DPR) is presently 21.05%.

Insider Activity at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the transaction, the executive vice president now directly owns 210,968 shares of the company's stock, valued at $6,630,724.24. The trade was a 3.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, the insider now directly owns 147,414 shares of the company's stock, valued at $3,980,178. This represents a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate 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.