Two Sigma Investments LP Boosts Position in Cinemark Holdings, Inc. (NYSE:CNK)

Two Sigma Investments LP grew its holdings in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 1,237.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 287,263 shares of the company's stock after acquiring an additional 265,785 shares during the period. Two Sigma Investments LP owned 0.23% of Cinemark worth $8,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Cinemark by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock worth $387,408,000 after purchasing an additional 109,179 shares during the period. Candlestick Capital Management LP lifted its position in shares of Cinemark by 48.1% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Cinemark by 100.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after acquiring an additional 2,054,579 shares during the period. Renaissance Technologies LLC raised its stake in Cinemark by 12.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock worth $117,773,000 after acquiring an additional 430,006 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Cinemark by 14.5% during the fourth quarter. Marshall Wace LLP now owns 3,124,834 shares of the company's stock valued at $96,807,000 after purchasing an additional 396,720 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised 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 restated a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a research report on Monday, April 28th. Barrington Research reissued an "outperform" rating and set a $36.00 target price on shares of Cinemark in a research note on Monday, May 5th. Benchmark dropped their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Macquarie reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Cinemark Price Performance

CNK stock traded up $0.12 during trading on Friday, hitting $33.08. 371,702 shares of the company's stock traded hands, compared to its average volume of 3,007,771. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 16.31 and a beta of 1.91. The business has a fifty day simple moving average of $28.85 and a 200 day simple moving average of $29.59. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $604.62 million. During the same quarter last year, the firm earned $0.19 EPS. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, research analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The business also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Thursday, May 29th. Cinemark's dividend payout ratio (DPR) is 21.05%.

Insider Activity

In other news, EVP Melissa Thomas sold 7,200 shares of the company's 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Valmir Fernandes sold 25,000 shares of the firm'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 value of $825,250.00. Following the sale, the insider now directly owns 130,612 shares of the company's stock, valued at $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

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.