Massar Capital Management LP Invests $1.12 Million in Cinemark Holdings, Inc. (NYSE:CNK)

Massar Capital Management LP bought a new position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 36,056 shares of the company's stock, valued at approximately $1,117,000. Cinemark makes up about 1.3% of Massar Capital Management LP's portfolio, making the stock its 27th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC boosted its holdings in Cinemark by 2,108.9% in the fourth quarter. Hsbc Holdings PLC now owns 374,579 shares of the company's stock valued at $11,571,000 after purchasing an additional 357,621 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Cinemark by 4.5% during the fourth quarter. MetLife Investment Management LLC now owns 66,583 shares of the company's stock worth $2,063,000 after purchasing an additional 2,855 shares in the last quarter. Dimensional Fund Advisors LP increased 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 in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Cinemark by 1.5% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 125,238 shares of the company's stock worth $3,877,000 after buying an additional 1,827 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Cinemark by 187.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 386,000 shares of the company's stock worth $11,958,000 after buying an additional 251,500 shares during the last quarter.

Insider Transactions at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company'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 transaction, the insider now directly owns 147,414 shares in the company, valued at approximately $3,980,178. This represents a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by insiders.

Cinemark Trading Up 1.8 %

Shares of NYSE CNK traded up $0.51 during mid-day trading on Friday, hitting $29.51. 4,613,770 shares of the company traded hands, compared to its average volume of 2,974,295. The business has a 50 day moving average of $26.15 and a two-hundred day moving average of $29.30. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 14.54 and a beta of 2.07. 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 1 year low of $16.32 and a 1 year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.06). The firm had revenue of $814.30 million for the quarter, compared to analysts' expectations of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm's revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the business earned ($0.15) earnings per share. On average, sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The company also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark's payout ratio is presently 15.76%.

Analysts Set New Price Targets

Several research firms recently issued reports on CNK. Barrington Research reiterated an "outperform" rating and issued a $40.00 price objective on shares of Cinemark in a report on Wednesday, February 19th. Macquarie reiterated an "outperform" rating and issued a $35.00 price objective on shares of Cinemark in a report on Thursday, February 20th. JPMorgan Chase & Co. raised shares of Cinemark from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $30.00 to $34.00 in a report on Friday, April 11th. Wedbush reaffirmed a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. Finally, Morgan Stanley dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.10.

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.