GAMMA Investing LLC Buys 49,094 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

GAMMA Investing LLC increased its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 1,677.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,020 shares of the company’s stock after buying an additional 49,094 shares during the quarter. GAMMA Investing LLC’s holdings in Cinemark were worth $1,295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Elequin Capital LP increased its stake in shares of Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after buying an additional 677 shares during the period. Russell Investments Group Ltd. lifted its holdings in Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after acquiring an additional 825 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings 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 acquiring an additional 1,501 shares during the period. Quarry LP lifted its holdings in Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock worth $65,000 after acquiring an additional 623 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of 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 buying an additional 2,207 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on CNK. Wedbush restated a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. B. Riley began coverage on Cinemark in a research report on Friday, May 16th. They issued a “neutral” rating and a $35.00 target price for the company. JPMorgan Chase & Co. increased their target price on Cinemark from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Benchmark decreased their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Barrington Research reissued an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.20.

Insider Transactions at Cinemark

In other news, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the transaction, the executive vice president now directly owns 210,968 shares in the company, valued at $6,630,724.24. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the transaction, the insider now owns 130,612 shares in the company, valued at approximately $4,311,502.12. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Cinemark Stock Performance

Shares of CNK opened at $32.12 on Monday. The business’s fifty day simple moving average is $30.53 and its two-hundred day simple moving average is $29.53. 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 Holdings, Inc. has a 12 month low of $18.46 and a 12 month high of $36.28. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 15.82 and a beta of 1.93.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. During the same period last year, the business posted $0.19 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. Research analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 1.00%. Cinemark’s dividend payout ratio is 21.05%.

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.