Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by Third Point LLC

Third Point LLC trimmed its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 46.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,750,000 shares of the company's stock after selling 3,250,000 shares during the quarter. Cinemark makes up about 1.6% of Third Point LLC's investment portfolio, making the stock its 26th largest holding. Third Point LLC owned approximately 3.06% of Cinemark worth $116,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNK. Russell Investments Group Ltd. raised its stake in Cinemark by 402.4% during 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 period. Aster Capital Management DIFC Ltd raised its position in shares of Cinemark by 380.0% during 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 purchased a new position in shares of Cinemark in the fourth quarter worth $63,000. Quarry LP boosted its position in shares of Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after acquiring an additional 623 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Cinemark by 44.9% during the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $91,000 after acquiring an additional 906 shares in the last quarter.

Cinemark Trading Down 1.7 %

Cinemark stock traded down $0.51 during midday trading on Monday, reaching $29.79. The stock had a trading volume of 6,162,321 shares, compared to its average volume of 3,004,656. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 14.68 and a beta of 2.07. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The company has a fifty day moving average of $26.40 and a 200 day moving average of $29.33.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share 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 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 period in the prior year, the business posted $0.19 earnings per share. On average, analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Shareholders 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 (DPR) is 15.76%.

Analyst Upgrades and Downgrades

Several research firms have commented on CNK. Wells Fargo & Company dropped their price objective on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Monday. Morgan Stanley lowered their target price on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Macquarie reissued an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Finally, Benchmark lowered their price objective on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.80.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the business'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 owns 147,414 shares of the company's stock, valued at $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is owned by company insiders.

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.