Tectonic Advisors LLC Raises Stake in Cinemark Holdings Inc (NYSE:CNK)

Tectonic Advisors LLC increased its holdings in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 50.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,645 shares of the company's stock after purchasing an additional 13,924 shares during the period. Tectonic Advisors LLC's holdings in Cinemark were worth $1,037,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CNK. Raymond James Financial Inc. bought a new position in Cinemark during the 4th quarter worth about $1,494,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cinemark by 23.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,978 shares of the company's stock valued at $867,000 after buying an additional 5,365 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Cinemark in the 4th quarter valued at about $224,000. Swiss National Bank boosted its holdings in shares of Cinemark by 0.7% in the 4th quarter. Swiss National Bank now owns 216,600 shares of the company's stock valued at $6,710,000 after buying an additional 1,600 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Cinemark by 13.4% in the 4th quarter. Natixis Advisors LLC now owns 23,405 shares of the company's stock valued at $725,000 after buying an additional 2,767 shares in the last quarter.

Analysts Set New Price Targets

CNK has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Wedbush raised shares of 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 report on Friday, July 11th. Roth Capital dropped their price target on shares of Cinemark from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 target price on shares of Cinemark in a research note on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Cinemark in a research report on Thursday, July 10th. They set a "buy" rating and a $36.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cinemark currently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total transaction of $226,296.00. Following the sale, the executive vice president directly owned 210,968 shares in the company, valued at $6,630,724.24. The trade was a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the transaction, the insider owned 130,612 shares of the company's stock, valued at $4,311,502.12. This represents a 16.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,724 shares of company stock worth $2,724,435 in the last three months. 2.30% of the stock is currently owned by company insiders.

Cinemark Stock Performance

Shares of CNK opened at $29.72 on Wednesday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 2.41 and a beta of 1.88. Cinemark Holdings Inc has a 52-week low of $20.43 and a 52-week high of $36.28. The stock has a 50 day moving average price of $31.38 and a 200 day moving average price of $29.20. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.53.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). Cinemark had a return on equity of 51.68% and a net margin of 8.17%. The business had revenue of $540.70 million during the quarter, compared to analysts' expectations of $604.62 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The company's quarterly revenue was down 6.6% compared to the same quarter last year. Research analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Thursday, May 29th. 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.

Want to see what other hedge funds are holding CNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cinemark Holdings Inc (NYSE:CNK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.