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

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

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

Insider Activity at Cinemark

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

Cinemark Price Performance

Shares of CNK traded up $0.39 on Wednesday, reaching $31.20. The stock had a trading volume of 2,954,364 shares, compared to its average volume of 3,010,409. The firm has a 50-day moving average of $26.58 and a 200 day moving average of $29.35. The firm has a market capitalization of $3.68 billion, a PE ratio of 15.37 and a beta of 1.91. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28. 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 (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, hitting 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 the consensus estimate of $604.62 million. During the same quarter in the previous year, the company posted $0.19 EPS. The business's revenue was down 6.6% on a year-over-year basis. Sell-side analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The business also recently declared a -- dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is 21.05%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Benchmark reduced their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Wedbush reiterated a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a research note on Monday, April 28th. Morgan Stanley reduced their price objective on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Barrington Research restated an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.