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

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC lifted its position in shares of Cinemark by 6.8% in the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company's stock valued at $270,000 after acquiring an additional 556 shares in the last quarter. QRG Capital Management Inc. raised its position 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 purchasing an additional 557 shares during the period. Summit Investment Advisors Inc. boosted its stake in Cinemark by 5.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock worth $358,000 after buying an additional 618 shares during the period. Sterling Capital Management LLC grew its stake in shares of Cinemark by 3.7% in the fourth quarter. Sterling Capital Management LLC now owns 18,339 shares of the company's stock valued at $568,000 after buying an additional 652 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position 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 buying an additional 825 shares during the period.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company's stock.

Cinemark Stock Down 3.1%

Shares of CNK traded down $0.98 during mid-day trading on Monday, hitting $30.26. 523,842 shares of the company's stock were exchanged, compared to its average volume of 3,014,182. The company has a 50-day simple moving average of $26.96 and a 200 day simple moving average of $29.41. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28. The company has a market cap of $3.48 billion, a PE ratio of 14.90 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $604.62 million. During the same period in the previous year, the business posted $0.19 earnings per share. The company's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

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

Analyst Ratings Changes

CNK has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Macquarie restated an "outperform" rating and set a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. 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. Wedbush reaffirmed a "neutral" rating and set a $32.00 target price on shares of Cinemark in a report on Monday, April 28th. Finally, Benchmark lowered their price objective on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. One investment 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, Cinemark currently has an average rating of "Moderate Buy" and a consensus price target of $32.80.

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.