Massar Capital Management LP Makes New Investment in Cinemark Holdings, Inc. (NYSE:CNK)

Massar Capital Management LP purchased a new stake in Cinemark Holdings, Inc. (NYSE:CNK) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 36,056 shares of the company’s stock, valued at approximately $1,117,000. Cinemark comprises 1.3% of Massar Capital Management LP’s investment portfolio, making the stock its 27th biggest holding.

Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock valued at $32,000 after buying an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after acquiring an additional 1,501 shares during the period. R Squared Ltd acquired a new stake in shares of Cinemark in the fourth quarter worth $63,000. GAMMA Investing LLC increased its position in 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 acquiring an additional 906 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Cinemark by 198.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock valued at $103,000 after purchasing an additional 2,207 shares during the last quarter.

Cinemark Stock Performance

NYSE CNK opened at $28.55 on Tuesday. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 14.06 and a beta of 2.07. 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 1-year low of $16.32 and a 1-year high of $36.28. The company has a 50 day moving average of $26.43 and a 200-day moving average of $29.25.

Cinemark (NYSE:CNK) last issued 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). The business had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) EPS. On average, equities analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

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

Insiders Place Their Bets

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the business’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 completion of the sale, the insider now owns 147,414 shares in the company, valued at $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CNK shares. Benchmark decreased their price target 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. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a report on Tuesday, February 18th. Wells Fargo & Company reduced their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upgraded Cinemark from a “neutral” rating to an “overweight” rating and upped their target price for the company from $30.00 to $34.00 in a research note on Friday, April 11th. Finally, Barrington Research reissued an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.10.

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.