Victory Capital Management Inc. Has $37.18 Million Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Victory Capital Management Inc. reduced its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 23.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,200,117 shares of the company’s stock after selling 372,262 shares during the quarter. Victory Capital Management Inc. owned about 0.98% of Cinemark worth $37,180,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aigen Investment Management LP grew its position in shares of Cinemark by 198.9% during the 3rd quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock worth $1,375,000 after buying an additional 32,870 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Cinemark by 88.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock worth $1,733,000 after buying an additional 29,295 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Cinemark during the 3rd quarter worth about $1,960,000. Entropy Technologies LP acquired a new position in shares of Cinemark during the 3rd quarter worth about $893,000. Finally, KBC Group NV grew its position in shares of Cinemark by 470.1% during the 4th quarter. KBC Group NV now owns 16,920 shares of the company’s stock worth $524,000 after buying an additional 13,952 shares during the period.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now owns 147,414 shares in the company, valued at $3,980,178. This represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased 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. Benchmark decreased their price objective on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. decreased their price objective on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Barrington Research reiterated an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and an average target price of $32.70.

Cinemark Trading Up 2.9 %

NYSE CNK opened at $24.42 on Monday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 12.03 and a beta of 2.41. The stock’s 50 day moving average price is $29.07 and its two-hundred day moving average price is $29.71. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28.

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

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.