International Assets Investment Management LLC Takes Position in Cinemark Holdings, Inc. (NYSE:CNK)

International Assets Investment Management LLC acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,304 shares of the company’s stock, valued at approximately $3,000,000.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Cinemark during the fourth quarter worth about $8,659,000. Renaissance Technologies LLC boosted its stake in Cinemark by 241.0% during the first quarter. Renaissance Technologies LLC now owns 1,334,400 shares of the company’s stock worth $23,058,000 after buying an additional 943,100 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cinemark by 85.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,714,344 shares of the company’s stock worth $29,624,000 after buying an additional 789,200 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cinemark by 42.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,958,609 shares of the company’s stock worth $28,967,000 after buying an additional 587,810 shares during the period. Finally, Morgan Stanley boosted its stake in Cinemark by 26.7% during the fourth quarter. Morgan Stanley now owns 2,740,649 shares of the company’s stock worth $23,734,000 after buying an additional 576,816 shares during the period.

Cinemark Price Performance

Shares of NYSE:CNK opened at $18.13 on Friday. The firm’s 50 day moving average price is $17.55 and its 200 day moving average price is $15.90. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.18 and a beta of 2.27. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $20.40. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, February 16th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $638.90 million during the quarter, compared to analyst estimates of $619.67 million. Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned ($0.82) EPS. As a group, equities research analysts predict that Cinemark Holdings, Inc. will post 0.83 earnings per share for the current fiscal year.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now owns 179,591 shares of the company’s stock, valued at $3,008,149.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on CNK. The Goldman Sachs Group lowered their target price on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Wedbush raised their price objective on shares of Cinemark from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday. Roth Mkm raised their price objective on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $15.00 in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cinemark presently has an average rating of “Hold” and an average price target of $19.89.

Cinemark 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.