GAMMA Investing LLC Increases Stake in Cinemark Holdings Inc $CNK

GAMMA Investing LLC lifted its position in Cinemark Holdings Inc (NYSE:CNK) by 66.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,474 shares of the company’s stock after purchasing an additional 1,384 shares during the period. GAMMA Investing LLC’s holdings in Cinemark were worth $105,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Cinemark by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 681,435 shares of the company’s stock valued at $16,961,000 after buying an additional 18,645 shares during the period. Intech Investment Management LLC raised its stake in shares of Cinemark by 52.0% during the first quarter. Intech Investment Management LLC now owns 94,133 shares of the company’s stock valued at $2,343,000 after acquiring an additional 32,190 shares during the last quarter. Inspire Investing LLC increased its holdings in Cinemark by 605.1% during the 1st quarter. Inspire Investing LLC now owns 102,936 shares of the company’s stock valued at $2,562,000 after purchasing an additional 88,338 shares during the period. GHP Investment Advisors Inc. increased its holdings in Cinemark by 104.8% during the 1st quarter. GHP Investment Advisors Inc. now owns 28,365 shares of the company’s stock valued at $706,000 after purchasing an additional 14,518 shares during the period. Finally, Dark Forest Capital Management LP increased its holdings in Cinemark by 2,933.6% during the 1st quarter. Dark Forest Capital Management LP now owns 240,749 shares of the company’s stock valued at $5,992,000 after purchasing an additional 232,813 shares during the period.

Analyst Ratings Changes

CNK has been the topic of a number of recent analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $33.00 price objective (down from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Wedbush raised Cinemark from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $32.00 to $37.00 in a research note on Friday, July 11th. Wall Street Zen upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Benchmark restated a “buy” rating and issued a $35.00 price objective on shares of Cinemark in a report on Wednesday, July 2nd. Finally, Roth Capital reduced their price target on shares of Cinemark from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.91.

Cinemark Price Performance

CNK stock opened at $28.04 on Thursday. Cinemark Holdings Inc has a 52-week low of $23.12 and a 52-week high of $36.28. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 2.00 and a beta of 1.75. The firm has a 50 day moving average price of $26.84 and a 200-day moving average price of $28.65.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.15). The firm had revenue of $940.50 million during the quarter, compared to the consensus estimate of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. Equities research analysts forecast that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, August 27th. Cinemark’s dividend payout ratio (DPR) is currently 17.49%.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president directly owned 203,768 shares in the company, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

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.