Raymond James Financial Inc. Acquires Shares of 48,214 Cinemark Holdings, Inc. (NYSE:CNK)

Raymond James Financial Inc. acquired a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,214 shares of the company's stock, valued at approximately $1,494,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Cinemark by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after acquiring an additional 109,179 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Cinemark by 100.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Cinemark by 12.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock valued at $117,773,000 after purchasing an additional 430,006 shares during the period. Hennessy Advisors Inc. boosted its position in shares of Cinemark by 13.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company's stock worth $61,629,000 after purchasing an additional 241,600 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Cinemark in the 4th quarter valued at about $25,623,000.

Cinemark Price Performance

Shares of CNK traded up $0.52 during mid-day trading on Wednesday, reaching $31.33. 1,398,141 shares of the stock traded hands, compared to its average volume of 3,004,606. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28. The firm has a fifty day moving average price of $26.58 and a 200 day moving average price of $29.35. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 15.40 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.32). The business had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company's revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. As a group, equities research analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CNK. Morgan Stanley cut their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Wedbush reissued a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research report on Monday, April 28th. Barrington Research restated an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Monday. Finally, Macquarie restated an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. One investment 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 stock. According to data from MarketBeat.com, Cinemark presently has an average rating of "Moderate Buy" and a consensus target price of $32.80.

Insider Activity

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction dated 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 trade represents a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company's stock.

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.