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

Tidal Investments LLC lessened its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 53.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 24,533 shares of the company's stock after selling 27,757 shares during the period. Tidal Investments LLC's holdings in Cinemark were worth $760,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

CNK has been the subject of a number of analyst reports. Morgan Stanley cut 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. Macquarie restated an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Wells Fargo & Company decreased their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Barrington Research reissued an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research report on Monday, May 5th. Finally, B. Riley began coverage on Cinemark in a research note on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective on the stock. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $33.20.

Insider Activity at Cinemark

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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were 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. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Cinemark Stock Performance

Shares of Cinemark stock traded down $0.15 during trading hours on Thursday, hitting $33.01. 1,925,524 shares of the company's stock traded hands, compared to its average volume of 3,013,378. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 16.26 and a beta of 1.91. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month 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. The company has a fifty day simple moving average of $28.85 and a 200-day simple moving average of $29.59.

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

Cinemark Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 dividend on an annualized basis and a dividend yield of 0.97%. Cinemark's dividend payout ratio (DPR) is presently 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.