Cinemark Holdings, Inc. (NYSE:CNK) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,305 shares of the company’s stock after acquiring an additional 5,706 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cinemark were worth $1,837,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Maverick Capital Ltd. lifted its stake in shares of Cinemark by 1,356.4% in the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after purchasing an additional 1,413,557 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Cinemark by 1,532.5% in the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock valued at $18,102,000 after buying an additional 610,398 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in Cinemark by 13.8% during the fourth quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock worth $61,629,000 after buying an additional 241,600 shares during the period. Castellan Group acquired a new stake in shares of Cinemark during the third quarter valued at about $6,130,000. Finally, Pinnbrook Capital Management LP acquired a new stake in shares of Cinemark during the fourth quarter valued at about $4,937,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on CNK. Macquarie reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, Benchmark cut their price target on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Performance

Shares of CNK opened at $25.59 on Friday. The stock has a 50-day simple moving average of $29.72 and a 200-day simple moving average of $29.77. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28. The stock has a market capitalization of $3.13 billion, a PE ratio of 12.61 and a beta of 2.38.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The firm’s revenue was up 27.5% compared to the same quarter last year. On average, analysts predict 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 will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s payout ratio is currently 15.76%.

Insider Buying and Selling at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, the insider now directly owns 147,414 shares of the company’s stock, valued at $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by insiders.

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.