Resona Asset Management Co. Ltd. Takes $348,000 Position in Cinemark Holdings, Inc. (NYSE:CNK)

Resona Asset Management Co. Ltd. bought a new stake in Cinemark Holdings, Inc. (NYSE:CNK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,244 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors have also added to or reduced their stakes in CNK. R Squared Ltd bought a new stake in Cinemark in the 4th quarter valued at $63,000. GAMMA Investing LLC boosted its position in shares of Cinemark by 44.9% during the 4th 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. Smartleaf Asset Management LLC increased its stake in Cinemark by 198.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock valued at $103,000 after acquiring an additional 2,207 shares during the period. New Age Alpha Advisors LLC acquired a new position in Cinemark in the fourth quarter worth about $183,000. Finally, HighTower Advisors LLC bought a new position in Cinemark during the fourth quarter worth about $224,000.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’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 of the company’s stock, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CNK has been the topic of several analyst reports. Wells Fargo & Company lowered their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Macquarie reiterated an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. Wedbush reiterated a “neutral” rating and set a $32.00 price objective on shares of Cinemark in a research note on Tuesday, February 18th. Barrington Research restated an “outperform” rating and issued a $40.00 target price on shares of Cinemark in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upgraded shares of Cinemark from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $30.00 to $34.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.10.

Cinemark Stock Up 2.6 %

Shares of NYSE CNK opened at $27.90 on Friday. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28. The firm’s 50-day simple moving average is $26.77 and its 200 day simple moving average is $29.19. 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 company has a market cap of $3.29 billion, a price-to-earnings ratio of 13.74 and a beta of 2.07.

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). The company had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.15) earnings per share. On average, research analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The company 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 payout ratio is 15.76%.

About Cinemark

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.