Man Group plc Acquires New Position in Cinemark Holdings, Inc. (NYSE:CNK)

Man Group plc 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 & Exchange Commission. The institutional investor bought 905,105 shares of the company's stock, valued at approximately $28,040,000. Man Group plc owned approximately 0.74% of Cinemark at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC boosted its position in shares of Cinemark by 6.8% during the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company's stock worth $270,000 after purchasing an additional 556 shares in the last quarter. QRG Capital Management Inc. raised its stake in Cinemark by 3.2% in the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock valued at $549,000 after buying an additional 557 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Cinemark by 3.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock valued at $504,000 after acquiring an additional 591 shares during the period. Summit Investment Advisors Inc. raised its stake in Cinemark by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock valued at $358,000 after acquiring an additional 618 shares during the period. Finally, Quarry LP increased its position 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.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Melissa Thomas sold 7,200 shares of the business's 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 completion of the sale, the executive vice president now owns 210,968 shares in the company, valued at approximately $6,630,724.24. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Cinemark Price Performance

CNK traded down $0.17 on Monday, reaching $31.67. The company had a trading volume of 2,378,986 shares, compared to its average volume of 2,989,747. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 15.60 and a beta of 1.91. The business has a 50 day simple moving average of $27.82 and a 200 day simple moving average of $29.48.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). The firm had revenue of $540.70 million for 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%. The business's revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. As a group, sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, May 29th. Cinemark's payout ratio is 21.05%.

Analyst Ratings Changes

A number of research firms have issued reports on CNK. Barrington Research reiterated an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. Benchmark lowered their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, February 20th. B. Riley initiated coverage on Cinemark in a report on Friday. They set a "neutral" rating and a $35.00 price objective for the company. Wells Fargo & Company decreased their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Finally, Morgan Stanley cut their price target 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.20.

Cinemark 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.