Two Sigma Advisers LP Invests $441,000 in Cinemark Holdings, Inc. (NYSE:CNK)

Two Sigma Advisers LP acquired a new position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,219 shares of the company's stock, valued at approximately $441,000.

A number of other institutional investors have also recently added to or reduced their stakes in CNK. Arrowstreet Capital Limited Partnership raised its stake 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 valued at $127,159,000 after purchasing an additional 2,054,579 shares in the last quarter. Candlestick Capital Management LP raised its stake 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 valued at $152,782,000 after purchasing an additional 1,601,537 shares in the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of Cinemark in the 4th quarter valued at about $37,763,000. Man Group plc acquired a new stake in shares of Cinemark in the 4th quarter valued at about $28,040,000. Finally, Norges Bank acquired a new stake in shares of Cinemark in the 4th quarter valued at about $25,623,000.

Cinemark Stock Up 1.7%

Shares of CNK stock traded up $0.53 during trading hours on Friday, hitting $32.09. 2,726,596 shares of the company were exchanged, compared to its average volume of 3,057,085. The business has a 50 day moving average of $29.86 and a two-hundred day moving average of $29.56. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. Cinemark Holdings, Inc. has a 52 week low of $16.60 and a 52 week high of $36.28. The company has a market capitalization of $3.69 billion, a PE ratio of 15.81 and a beta of 1.93.

Cinemark (NYSE:CNK - Get Free Report) last announced its 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 net margin of 10.16% and a return on equity of 65.83%. 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 company posted $0.19 earnings per share. The firm's revenue was down 6.6% on a year-over-year basis. Analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, May 29th. Cinemark's payout ratio is 21.05%.

Wall Street Analyst Weigh In

CNK has been the topic of several research reports. Benchmark dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Morgan Stanley decreased their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. B. Riley initiated coverage on shares of Cinemark in a research report on Friday, May 16th. They issued a "neutral" rating and a $35.00 target price for the company. JPMorgan Chase & Co. upped their target price 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, Barrington Research reiterated an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and an average price target of $33.20.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction 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 completion of the sale, the insider now owns 130,612 shares in the company, valued at $4,311,502.12. This trade represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction dated 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 now owns 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

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.