New Age Alpha Advisors LLC Takes $183,000 Position in Cinemark Holdings, Inc. (NYSE:CNK)

New Age Alpha Advisors LLC acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,912 shares of the company’s stock, valued at approximately $183,000.

Several other hedge funds also recently bought and sold shares of CNK. Norges Bank bought a new position in Cinemark in the 4th quarter worth about $25,623,000. Wealthfront Advisers LLC bought a new position in shares of Cinemark in the fourth quarter worth approximately $13,704,000. Hennessy Advisors Inc. raised its stake in Cinemark by 13.8% in the fourth quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after purchasing an additional 241,600 shares in the last quarter. Castellan Group bought a new stake in Cinemark during the third quarter valued at approximately $6,130,000. Finally, Amundi purchased a new position in Cinemark in the 4th quarter worth approximately $5,985,000.

Cinemark Stock Up 1.2 %

NYSE CNK opened at $24.84 on Thursday. 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 $3.04 billion, a PE ratio of 12.24 and a beta of 2.41. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The business’s 50-day moving average is $27.30 and its 200 day moving average is $29.33.

Cinemark (NYSE:CNK) last posted 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 net margin of 10.16% and a return on equity of 65.83%. The business had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. During the same period last year, the firm posted ($0.15) earnings per share. Cinemark’s quarterly revenue was up 27.5% on a year-over-year basis. Sell-side analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently announced a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio is 15.76%.

Wall Street Analysts Forecast Growth

CNK has been the subject of a number of research analyst reports. Benchmark dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. Wells Fargo & Company reduced their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley dropped their target price on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Finally, Barrington Research reiterated an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.70.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’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 owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.30% 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.