Castleark Management LLC Buys Shares of 147,620 Cinemark Holdings Inc $CNK

Castleark Management LLC purchased a new stake in Cinemark Holdings Inc (NYSE:CNK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 147,620 shares of the company’s stock, valued at approximately $4,455,000. Castleark Management LLC owned 0.13% of Cinemark at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Cinemark in the first quarter worth approximately $32,297,000. Russell Investments Group Ltd. grew its holdings in shares of Cinemark by 242.9% during the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company’s stock worth $88,000 after purchasing an additional 2,502 shares during the period. Algert Global LLC acquired a new stake in shares of Cinemark during the 1st quarter worth about $1,034,000. Wellington Management Group LLP raised its holdings in Cinemark by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company’s stock valued at $232,643,000 after buying an additional 1,066,225 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Cinemark in the 1st quarter valued at about $2,900,000.

Cinemark Price Performance

Shares of CNK opened at $24.59 on Monday. The company has a market cap of $2.89 billion, a P/E ratio of 23.64, a PEG ratio of 2.33 and a beta of 1.10. Cinemark Holdings Inc has a fifty-two week low of $21.61 and a fifty-two week high of $34.01. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 5.01. The firm’s 50 day moving average price is $27.01 and its 200 day moving average price is $28.10.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The business had revenue of $857.50 million during the quarter, compared to analyst estimates of $851.47 million. During the same quarter last year, the firm earned $1.19 EPS. The business’s revenue was down 7.0% on a year-over-year basis. On average, research analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a dividend of $0.09 per share. This is a positive change from Cinemark’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, November 28th. This represents a $0.36 annualized dividend and a yield of 1.5%. Cinemark’s dividend payout ratio (DPR) is currently 34.62%.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total value of $547,854.42. Following the sale, the executive vice president owned 167,360 shares of the company’s stock, valued at $4,152,201.60. This trade represents a 11.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research raised shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Barrington Research reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Cinemark in a research report on Tuesday, September 23rd. Benchmark reiterated a “buy” rating on shares of Cinemark in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on Cinemark from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 8th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.27.

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.