Freestone Grove Partners LP Makes New Investment in Cinemark Holdings, Inc. (NYSE:CNK)

Freestone Grove Partners LP acquired a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,716 shares of the company's stock, valued at approximately $425,000.

A number of other institutional investors and hedge funds have also modified their holdings of CNK. Russell Investments Group Ltd. lifted its holdings in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after acquiring an additional 825 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock valued at $59,000 after purchasing an additional 1,501 shares in the last quarter. R Squared Ltd bought a new stake in shares of Cinemark in the 4th quarter valued at approximately $63,000. Quarry LP raised its holdings in shares of Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after buying an additional 623 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Cinemark by 44.9% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock worth $91,000 after buying an additional 906 shares during the period.

Insider Activity

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now directly owns 147,414 shares of the company's stock, valued at $3,980,178. The trade was a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is owned by corporate insiders.

Cinemark Trading Up 0.5 %

Shares of Cinemark stock traded up $0.16 during trading on Friday, hitting $31.17. 740,299 shares of the company were exchanged, compared to its average volume of 3,005,600. The firm has a market capitalization of $3.68 billion, a P/E ratio of 15.35 and a beta of 1.91. The firm's fifty day moving average price is $26.82 and its 200 day moving average price is $29.38. 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 1-year low of $16.32 and a 1-year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.32). The business had revenue of $540.70 million during the quarter, compared to analysts' expectations of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. Cinemark's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. As a group, sell-side analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently declared a -- dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark's dividend payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CNK. Wells Fargo & Company dropped their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Macquarie restated an "outperform" rating and issued a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. Wedbush reissued a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a research note on Monday, April 28th. Barrington Research reissued an "outperform" rating and set a $36.00 price target on shares of Cinemark in a research note on Monday. Finally, Morgan Stanley dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given 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, Cinemark currently has an average rating of "Moderate Buy" and an average target price of $32.80.

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.