268,468 Shares in Cinemark Holdings, Inc. (NYSE:CNK) Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC bought a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 268,468 shares of the company's stock, valued at approximately $8,317,000. Voloridge Investment Management LLC owned approximately 0.22% of Cinemark as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CNK. Janney Montgomery Scott LLC purchased a new stake in shares of Cinemark in the 4th quarter valued at approximately $257,000. KBC Group NV lifted its stake in shares of Cinemark by 470.1% in the fourth quarter. KBC Group NV now owns 16,920 shares of the company's stock valued at $524,000 after purchasing an additional 13,952 shares during the period. R Squared Ltd acquired a new stake in shares of Cinemark in the fourth quarter valued at about $63,000. Hodges Capital Management Inc. raised its position in Cinemark by 10.3% during the fourth quarter. Hodges Capital Management Inc. now owns 348,940 shares of the company's stock worth $10,810,000 after acquiring an additional 32,650 shares during the last quarter. Finally, Tectonic Advisors LLC raised its position in shares of Cinemark by 10.2% during the 4th quarter. Tectonic Advisors LLC now owns 27,721 shares of the company's stock worth $859,000 after purchasing an additional 2,569 shares during the last quarter.

Cinemark Trading Up 0.5%

Shares of CNK traded up $0.15 during trading hours on Friday, reaching $33.11. The stock had a trading volume of 497,446 shares, compared to its average volume of 3,008,180. The firm has a 50-day moving average of $28.85 and a 200 day moving average of $29.59. The company has a market cap of $3.81 billion, a P/E ratio of 16.31 and a beta of 1.91. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last issued its 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). 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%. Cinemark's revenue was down 6.6% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. On average, sell-side analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders 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 payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNK. Morgan Stanley lowered their price objective on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Benchmark reduced their target price on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Wedbush reaffirmed a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a research note on Monday, April 28th. B. Riley initiated coverage on shares of Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 target price on the stock. Finally, Barrington Research restated an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $33.20.

Insider Buying and Selling at Cinemark

In related 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 transaction of $825,250.00. Following the transaction, the insider now owns 130,612 shares of the company's stock, valued at approximately $4,311,502.12. This trade represents a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melissa Thomas sold 7,200 shares of Cinemark 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 in the company, valued at $6,630,724.24. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

About Cinemark

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.