XTX Topco Ltd Acquires 33,913 Shares of Cinemark Holdings Inc (NYSE:CNK)

Key Points

• XTX Topco Ltd increased its stake in Cinemark Holdings Inc by 198.1% during the 1st quarter, now owning 51,036 shares valued at approximately $1.27 million.
• Company insiders, including EVP Wanda Marie Gierhart, have sold a total of 84,724 shares worth about $2.72 million in the past 90 days, indicating significant insider activity.
• Despite recent price target adjustments by analysts, Cinemark has a consensus rating of "Moderate Buy," with an average price target of $34.00.

XTX Topco Ltd lifted its position in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 198.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,036 shares of the company's stock after buying an additional 33,913 shares during the period. XTX Topco Ltd's holdings in Cinemark were worth $1,270,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Candlestick Capital Management LP increased its holdings in shares of Cinemark by 48.1% in the fourth 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. Renaissance Technologies LLC boosted its stake in shares of 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 in the last quarter. Marshall Wace LLP grew its holdings in shares of Cinemark by 14.5% in the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company's stock worth $96,807,000 after acquiring an additional 396,720 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cinemark by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,959,183 shares of the company's stock worth $91,676,000 after purchasing an additional 34,402 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Cinemark by 14.2% during the fourth quarter. Northern Trust Corp now owns 1,272,312 shares of the company's stock valued at $39,416,000 after purchasing an additional 158,130 shares during the last quarter.

Wall Street Analysts Forecast Growth

CNK has been the subject of a number of recent analyst reports. B. Riley started coverage on Cinemark in a research report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price target for the company. Barrington Research reissued an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Cinemark in a report on Thursday, July 10th. They set a "buy" rating and a $36.00 price target on the stock. Roth Capital lowered their price objective on shares of Cinemark from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Finally, Benchmark reissued a "buy" rating and set a $35.00 target price on shares of Cinemark in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Cinemark presently has a consensus rating of "Moderate Buy" and an average price target of $34.00.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 52,524 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the sale, the insider directly owned 94,890 shares of the company's stock, valued at $3,022,246.50. The trade was a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction, the executive vice president owned 210,968 shares in the company, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,724 shares of company stock valued at $2,724,435. 2.30% of the stock is owned by corporate insiders.

Cinemark Stock Down 3.9%

Shares of NYSE:CNK traded down $1.05 during trading on Friday, reaching $25.82. 7,274,735 shares of the company traded hands, compared to its average volume of 4,522,067. The firm has a fifty day simple moving average of $30.68 and a 200 day simple moving average of $29.06. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.11. Cinemark Holdings Inc has a 1-year low of $23.12 and a 1-year high of $36.28. The firm has a market cap of $2.97 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 2.20 and a beta of 1.90.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%. The firm had revenue of $940.50 million for the quarter, compared to analysts' expectations of $942.14 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. Cinemark's revenue was up 28.1% 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 company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Cinemark's payout ratio is presently 21.05%.

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.