Tidal Investments LLC Cuts Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Tidal Investments LLC cut its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 53.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,533 shares of the company's stock after selling 27,757 shares during the quarter. Tidal Investments LLC's holdings in Cinemark were worth $760,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new position in shares of Cinemark during the 4th quarter valued at approximately $257,000. KBC Group NV increased its holdings in shares of Cinemark by 470.1% during the 4th quarter. KBC Group NV now owns 16,920 shares of the company's stock valued at $524,000 after purchasing an additional 13,952 shares in the last quarter. R Squared Ltd purchased a new position in shares of Cinemark during the 4th quarter valued at approximately $63,000. Hodges Capital Management Inc. increased its holdings in shares of Cinemark by 10.3% during the 4th quarter. Hodges Capital Management Inc. now owns 348,940 shares of the company's stock valued at $10,810,000 after purchasing an additional 32,650 shares in the last quarter. Finally, Tectonic Advisors LLC increased its holdings in shares of Cinemark by 10.2% during the 4th quarter. Tectonic Advisors LLC now owns 27,721 shares of the company's stock valued at $859,000 after purchasing an additional 2,569 shares in the last quarter.

Insider Transactions at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the sale, the insider now directly owns 130,612 shares in the company, valued at approximately $4,311,502.12. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

CNK has been the subject of several recent research reports. Barrington Research reaffirmed an "outperform" rating and set a $36.00 target price on shares of Cinemark in a report on Monday, May 5th. Wedbush restated a "neutral" rating and set a $32.00 price target on shares of Cinemark in a research report on Monday, April 28th. Morgan Stanley lowered their price target on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Benchmark lowered their price target on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.20.

Cinemark Trading Up 2.4%

Shares of CNK stock traded up $0.80 during trading hours on Friday, hitting $33.76. The company had a trading volume of 2,969,920 shares, compared to its average volume of 3,018,442. The company's fifty day moving average is $29.17 and its 200 day moving average is $29.58. 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 Holdings, Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $36.28. The stock has a market capitalization of $3.88 billion, a PE ratio of 16.63 and a beta of 1.91.

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 firm had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. During the same period in the prior year, the business posted $0.19 EPS. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a $0.08 dividend. The ex-dividend date is Thursday, May 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.95%. Cinemark's dividend payout ratio is currently 21.05%.

Cinemark Company 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.