Dynamic Technology Lab Private Ltd Raises Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Dynamic Technology Lab Private Ltd grew its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 26.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 152,400 shares of the company’s stock after acquiring an additional 32,310 shares during the quarter. Cinemark accounts for approximately 0.8% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 2nd biggest holding. Dynamic Technology Lab Private Ltd owned approximately 0.12% of Cinemark worth $4,722,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. KBC Group NV grew its position in 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 acquiring an additional 13,952 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Cinemark by 18.8% in the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after purchasing an additional 99,843 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Cinemark in the fourth quarter worth $477,000. XTX Topco Ltd bought a new stake in Cinemark during the 3rd quarter valued at $474,000. Finally, Amundi purchased a new stake in Cinemark during the 4th quarter valued at $5,985,000.

Wall Street Analysts Forecast Growth

CNK has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley dropped their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Macquarie reissued an “outperform” rating and set a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.70.

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 transaction of $246,213.00. Following the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Cinemark Stock Down 1.8 %

Shares of Cinemark stock opened at $24.53 on Friday. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28. 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 company has a 50-day moving average of $27.12 and a 200 day moving average of $29.27. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 12.09 and a beta of 2.41.

Cinemark (NYSE:CNK) last announced its earnings results 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 business had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. During the same period in the prior year, the business posted ($0.15) EPS. Cinemark’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, sell-side 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 announced a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark’s dividend payout ratio is currently 15.76%.

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.