Bridgewater Associates LP Purchases New Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Bridgewater Associates LP acquired a new position in Cinemark Holdings, Inc. (NYSE:CNK) during the 4th quarter, HoldingsChannel reports. The fund acquired 43,276 shares of the company’s stock, valued at approximately $1,341,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after purchasing an additional 825 shares during the period. Aster Capital Management DIFC Ltd boosted its position in Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after purchasing an additional 1,501 shares during the period. R Squared Ltd purchased a new position in shares of Cinemark in the fourth quarter worth about $63,000. GAMMA Investing LLC raised its position in shares of Cinemark by 44.9% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $91,000 after purchasing an additional 906 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Cinemark by 198.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock valued at $103,000 after buying an additional 2,207 shares in the last quarter.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $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 SEC, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Cinemark Trading Up 1.6 %

Shares of Cinemark stock opened at $28.47 on Friday. The company has a 50 day simple moving average of $26.49 and a two-hundred day simple moving average of $29.20. The firm has a market cap of $3.36 billion, a PE ratio of 14.02 and a beta of 2.07. 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.

Cinemark (NYSE:CNK) last announced its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The firm’s revenue was up 27.5% on a year-over-year basis. Analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The company also recently announced a — dividend, which was paid on Wednesday, March 19th. Investors 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%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Cinemark from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $30.00 to $34.00 in a report on Friday, April 11th. 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. Macquarie reiterated an “outperform” rating and set a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. Wells Fargo & Company lowered their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Morgan Stanley reduced their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.10.

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.