Legal & General Group Plc Has $9.48 Million Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Legal & General Group Plc reduced its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 306,071 shares of the company’s stock after selling 7,174 shares during the period. Legal & General Group Plc owned approximately 0.25% of Cinemark worth $9,482,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Cinemark by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after acquiring an additional 25,857 shares during the period. Castellan Group bought a new stake in shares of Cinemark in the third quarter valued at about $6,130,000. Franklin Resources Inc. boosted its position in shares of Cinemark by 6.8% during the third quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock worth $1,651,000 after buying an additional 3,632 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Cinemark by 18.8% during the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after buying an additional 99,843 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Cinemark by 44.9% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $91,000 after buying an additional 906 shares during the last quarter.

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 directly owns 147,414 shares in the company, valued at approximately $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNK. Benchmark decreased their price target on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Macquarie reissued an “outperform” rating and set a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. Barrington Research restated an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research report on Tuesday, February 18th. Finally, Morgan Stanley reduced their price target on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.10.

Cinemark Stock Up 1.6 %

CNK opened at $28.47 on Friday. The stock’s fifty day simple moving average is $26.55 and its 200 day simple moving average is $29.20. Cinemark Holdings, Inc. has a 1-year low of $16.32 and a 1-year high of $36.28. The stock has a market cap of $3.36 billion, a PE ratio of 14.02 and a beta of 2.07. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate 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 net margin of 10.16% and a return on equity of 65.83%. Cinemark’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share. As a group, research analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The company 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 was Wednesday, March 5th. Cinemark’s dividend payout ratio is presently 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.