Cinemark Holdings, Inc. (NYSE:CNK) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. grew its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 81.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 346,525 shares of the company’s stock after purchasing an additional 155,243 shares during the period. Prudential Financial Inc. owned approximately 0.28% of Cinemark worth $10,735,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Natixis Advisors LLC grew its position in Cinemark by 2.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock valued at $575,000 after buying an additional 583 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Cinemark in the third quarter valued at about $115,000. Quantbot Technologies LP purchased a new stake in shares of Cinemark in the third quarter valued at about $687,000. FMR LLC increased its stake in shares of Cinemark by 148.7% during the third quarter. FMR LLC now owns 30,401 shares of the company’s stock worth $846,000 after acquiring an additional 18,177 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Cinemark by 1,532.5% during the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock worth $18,102,000 after purchasing an additional 610,398 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley dropped their target price on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Barrington Research reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. Finally, Macquarie reiterated an “outperform” rating and issued a $35.00 price objective on shares of Cinemark in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

Insider Activity

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 sale, the insider now directly owns 147,414 shares in the company, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock.

Cinemark Stock Down 3.6 %

Shares of NYSE CNK opened at $24.82 on Friday. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The firm’s 50-day moving average is $27.54 and its two-hundred day moving average is $29.40. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28. The company has a market capitalization of $3.04 billion, a PE ratio of 12.22 and a beta of 2.41.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share 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 analyst estimates of $797.18 million. During the same period in the prior year, the firm earned ($0.15) EPS. The business’s quarterly revenue was up 27.5% on a year-over-year basis. Equities analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal 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 issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is 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.