Wakefield Asset Management LLLP Has $1.08 Million Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Wakefield Asset Management LLLP reduced its position in Cinemark Holdings, Inc. (NYSE:CNK) by 29.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 34,858 shares of the company’s stock after selling 14,594 shares during the period. Wakefield Asset Management LLLP’s holdings in Cinemark were worth $1,080,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Cinemark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock valued at $68,209,000 after purchasing an additional 25,857 shares during the period. Hennessy Advisors Inc. raised its position in shares of Cinemark by 13.8% in the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after acquiring an additional 241,600 shares during the period. Maverick Capital Ltd. boosted its stake in Cinemark by 1,356.4% during the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after acquiring an additional 1,413,557 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in Cinemark by 2.4% during the third quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company’s stock valued at $35,207,000 after purchasing an additional 29,275 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Cinemark by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 662,790 shares of the company’s stock worth $20,533,000 after purchasing an additional 33,008 shares during the period.

Insider Activity

In related 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 value of $246,213.00. Following the transaction, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. This represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Cinemark Price Performance

Shares of CNK opened at $25.73 on Friday. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 12.67 and a beta of 2.38. 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’s fifty day simple moving average is $29.83 and its 200 day simple moving average is $29.77. Cinemark Holdings, Inc. has a 1-year low of $16.32 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last issued its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. During the same period in the previous year, the company posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 27.5% 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 business also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark’s dividend payout ratio is currently 15.76%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Macquarie restated an “outperform” rating and issued a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Barrington Research restated an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Morgan Stanley cut their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Finally, Wells Fargo & Company cut their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

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.