UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Cinemark Holdings, Inc. (NYSE:CNK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 24.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 319,768 shares of the company's stock after purchasing an additional 61,911 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of Cinemark worth $9,906,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. 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 acquiring an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP grew its position in 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 acquiring an additional 1,601,537 shares during the last quarter. Simcoe Capital Management LLC bought a new position in Cinemark in the 4th quarter valued at $37,763,000. Man Group plc bought a new position in Cinemark in the 4th quarter valued at $28,040,000. Finally, Norges Bank bought a new position in Cinemark in the 4th quarter valued at $25,623,000.

Cinemark Stock Down 2.4%

Cinemark stock traded down $0.78 during midday trading on Wednesday, reaching $31.53. The company's stock had a trading volume of 3,380,192 shares, compared to its average volume of 3,060,863. The stock's 50-day simple moving average is $29.44 and its 200-day simple moving average is $29.60. 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 52-week low of $16.32 and a 52-week high of $36.28. The stock has a market capitalization of $3.63 billion, a P/E ratio of 15.53 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last released 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 return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $540.70 million during the quarter, compared to analysts' expectations of $604.62 million. During the same period last year, the business posted $0.19 earnings per share. The firm's revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The company 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, May 29th. Cinemark's dividend payout ratio is presently 21.05%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wedbush reaffirmed a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a research report on Monday, April 28th. Macquarie reaffirmed an "outperform" rating and issued a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Benchmark cut their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. B. Riley assumed coverage on Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 target price for the company. Finally, Morgan Stanley lowered their target price on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.20.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total value of $825,250.00. Following the transaction, the insider now directly owns 130,612 shares of the company's stock, valued at approximately $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $226,296.00. Following the sale, the executive vice president now directly owns 210,968 shares in the company, 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. 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.