Mitchell Capital Management Co. Decreases Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Mitchell Capital Management Co. lessened its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 4.4% in the fourth quarter, Holdings Channel reports. The fund owned 165,753 shares of the company’s stock after selling 7,687 shares during the quarter. Mitchell Capital Management Co.’s holdings in Cinemark were worth $5,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP boosted its holdings in Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 1,308 shares during the period. R Squared Ltd purchased a new position in Cinemark in the 4th quarter worth approximately $63,000. GAMMA Investing LLC boosted its holdings in Cinemark by 44.9% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $91,000 after acquiring an additional 906 shares during the period. Quest Partners LLC purchased a new position in Cinemark in the 3rd quarter worth approximately $115,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Cinemark during the 3rd quarter valued at approximately $209,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CNK shares. Benchmark reduced their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Barrington Research reiterated an “outperform” rating and set a $40.00 target price on shares of Cinemark in a research note on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Stock Performance

Shares of CNK opened at $25.59 on Friday. The business’s fifty day moving average price is $29.72 and its 200 day moving average price is $29.79. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month 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. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96.

Cinemark (NYSE:CNK) last announced its quarterly earnings data 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 return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. During the same quarter last year, the business earned ($0.15) earnings per share. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. Equities research analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

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

Insiders Place Their Bets

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the transaction, the insider now directly owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by corporate 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.