Norges Bank Buys Shares of 827,085 Cinemark Holdings, Inc. (NYSE:CNK)

Norges Bank purchased a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 827,085 shares of the company’s stock, valued at approximately $25,623,000.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC boosted its position in Cinemark by 6.8% during the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after acquiring an additional 556 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Cinemark by 3.2% during the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock worth $549,000 after purchasing an additional 557 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Cinemark by 44.9% during the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $91,000 after purchasing an additional 906 shares during the last quarter. First National Bank of Hutchinson boosted its holdings in shares of Cinemark by 3.9% during the fourth quarter. First National Bank of Hutchinson now owns 25,425 shares of the company’s stock worth $788,000 after purchasing an additional 945 shares during the last quarter. Finally, Quarry LP grew its position in shares of Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 1,308 shares during the period.

Wall Street Analyst Weigh In

CNK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Benchmark decreased their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Barrington Research reaffirmed an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research report on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a report on Tuesday, February 18th. Finally, Morgan Stanley dropped their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Insiders Place Their Bets

In related news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Cinemark Trading Down 1.8 %

NYSE CNK opened at $24.53 on Monday. The stock has a market cap of $2.89 billion, a P/E ratio of 12.09 and a beta of 2.07. The company’s fifty day simple moving average is $27.12 and its 200-day simple moving average is $29.28. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. Cinemark Holdings, Inc. has a 52 week low of $16.32 and a 52 week high of $36.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The firm had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.15) EPS. Equities research analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is presently 15.76%.

About Cinemark

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.