Hsbc Holdings PLC Acquires 357,621 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Hsbc Holdings PLC increased its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 2,108.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,579 shares of the company's stock after buying an additional 357,621 shares during the quarter. Hsbc Holdings PLC owned about 0.31% of Cinemark worth $11,571,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew 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 purchasing an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd grew 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 buying an additional 1,501 shares in the last quarter. R Squared Ltd bought a new position in Cinemark in the 4th quarter valued at about $63,000. GAMMA Investing LLC raised its position in shares of Cinemark by 44.9% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $91,000 after buying an additional 906 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Cinemark by 198.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock valued at $103,000 after buying an additional 2,207 shares in the last quarter.

Wall Street Analyst Weigh In

CNK has been the topic of a number of recent analyst reports. Benchmark decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Wells Fargo & Company lowered their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Morgan Stanley reduced their price objective on Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised Cinemark from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $30.00 to $34.00 in a research note on Friday, April 11th. Finally, Macquarie restated an "outperform" rating and issued a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.10.

Cinemark Trading Up 1.4 %

Shares of CNK stock traded up $0.41 during trading hours on Friday, hitting $30.30. 4,264,077 shares of the company's stock traded hands, compared to its average volume of 2,991,975. The stock has a market cap of $3.57 billion, a PE ratio of 14.93 and a beta of 2.07. The stock's 50 day simple moving average is $26.40 and its 200 day simple moving average is $29.33. 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 12 month low of $16.32 and a 12 month high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its 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 analyst estimates of $604.62 million. During the same period last year, the company earned $0.19 EPS. Cinemark's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The business also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend payout ratio is currently 15.76%.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company's stock in a transaction on 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 owns 147,414 shares of the company's stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

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.