Tabor Asset Management LP Cuts Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Tabor Asset Management LP lessened its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,379 shares of the company's stock after selling 38,527 shares during the period. Cinemark makes up about 4.4% of Tabor Asset Management LP's investment portfolio, making the stock its 5th largest holding. Tabor Asset Management LP owned 0.24% of Cinemark worth $9,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock worth $127,159,000 after purchasing an additional 2,054,579 shares in the last quarter. Candlestick Capital Management LP increased its holdings in shares of Cinemark by 48.1% in the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock worth $152,782,000 after purchasing an additional 1,601,537 shares in the last quarter. Simcoe Capital Management LLC bought a new stake in shares of Cinemark in the 4th quarter worth $37,763,000. Man Group plc bought a new stake in shares of Cinemark in the 4th quarter worth $28,040,000. Finally, Norges Bank bought a new stake in shares of Cinemark in the 4th quarter worth $25,623,000.

Cinemark Stock Performance

NYSE CNK traded up $0.06 on Friday, hitting $32.50. 2,536,328 shares of the company traded hands, compared to its average volume of 3,002,739. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 16.01 and a beta of 1.91. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The business's 50 day moving average price is $28.29 and its 200-day moving average price is $29.53. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced 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 return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. During the same period in the previous year, the business earned $0.19 earnings per share. The business's revenue was down 6.6% on a year-over-year basis. Equities analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. Cinemark's payout ratio is 21.05%.

Insider Activity

In other news, EVP Melissa Thomas sold 7,200 shares of Cinemark 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 sale, the executive vice president now directly owns 210,968 shares of the company's stock, valued at approximately $6,630,724.24. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the sale, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company cut their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. B. Riley assumed coverage on Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Wedbush reaffirmed a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a report on Monday, May 5th. One equities research 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.20.

Cinemark Profile

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.