Two Sigma Investments LP Buys 265,785 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

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

Several other institutional investors have also added to or reduced their stakes in CNK. Teza Capital Management LLC increased its holdings in Cinemark by 11.5% in the 4th quarter. Teza Capital Management LLC now owns 11,695 shares of the company's stock worth $362,000 after buying an additional 1,206 shares in the last quarter. State of Wyoming lifted its stake in Cinemark by 122.4% during the 4th quarter. State of Wyoming now owns 24,013 shares of the company's stock valued at $744,000 after acquiring an additional 13,217 shares during the period. Simcoe Capital Management LLC purchased a new stake in shares of Cinemark during the 4th quarter valued at about $37,763,000. Sora Investors LLC grew its stake in shares of Cinemark by 302.2% in the fourth quarter. Sora Investors LLC now owns 160,899 shares of the company's stock worth $4,985,000 after acquiring an additional 120,899 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Cinemark by 44.6% during the fourth quarter. ProShare Advisors LLC now owns 33,191 shares of the company's stock valued at $1,028,000 after purchasing an additional 10,237 shares during the last quarter.

Insider Buying and Selling

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

Cinemark Stock Performance

Shares of NYSE:CNK traded down $0.13 during midday trading on Thursday, hitting $32.95. The company had a trading volume of 979,189 shares, compared to its average volume of 3,566,475. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28. The company has a fifty day moving average of $28.85 and a two-hundred day moving average of $29.59. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 16.22 and a beta of 1.91. 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 (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $540.70 million during the quarter, compared to analyst estimates of $604.62 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. Cinemark's revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CNK shares. Wells Fargo & Company dropped their target price on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. B. Riley began coverage on Cinemark in a report on Friday, May 16th. They set a "neutral" rating and a $35.00 price target on the stock. Barrington Research restated an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research note on Monday, May 5th. JPMorgan Chase & Co. lifted their price objective on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Macquarie reiterated an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Cinemark 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.