Price T Rowe Associates Inc. MD Acquires 12,055 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Price T Rowe Associates Inc. MD increased its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,324 shares of the company's stock after buying an additional 12,055 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.06% of Cinemark worth $2,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after purchasing an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock valued at $59,000 after buying an additional 1,501 shares during the last quarter. R Squared Ltd bought a new position in shares of Cinemark during the 4th quarter worth approximately $63,000. GAMMA Investing LLC increased its holdings 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 acquiring an additional 906 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 2,207 shares during the period.

Cinemark Price Performance

Cinemark stock traded up $0.24 during mid-day trading on Friday, reaching $31.25. The company had a trading volume of 2,176,305 shares, compared to its average volume of 3,017,231. The business has a fifty day simple moving average of $26.96 and a 200 day simple moving average of $29.40. The company has a market cap of $3.68 billion, a P/E ratio of 15.39 and a beta of 1.91. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. Cinemark Holdings, Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $36.28.

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, meeting the consensus estimate of ($0.32). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. During the same quarter last year, the firm earned $0.19 earnings per share. The company's revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The company also recently announced a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend payout ratio is presently 21.05%.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's 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 directly owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

CNK has been the topic of several research analyst reports. Barrington Research reissued an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a research report on Monday, May 5th. Morgan Stanley decreased their price target 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. Wedbush reissued a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. Wells Fargo & Company cut their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Finally, Macquarie reiterated an "outperform" rating and set a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.