Cinemark Holdings, Inc. (NYSE:CNK) Shares Bought by Sora Investors LLC

Sora Investors LLC grew its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 302.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,899 shares of the company’s stock after acquiring an additional 120,899 shares during the period. Sora Investors LLC owned about 0.13% of Cinemark worth $4,985,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Franklin Resources Inc. increased its stake in Cinemark by 6.8% in the 3rd quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock valued at $1,651,000 after purchasing an additional 3,632 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Cinemark by 18.8% in the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after purchasing an additional 99,843 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of Cinemark by 104.5% in the fourth quarter. Ritholtz Wealth Management now owns 35,953 shares of the company’s stock valued at $1,114,000 after buying an additional 18,371 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in shares of Cinemark in the 4th quarter worth about $4,725,000. Finally, Hennessy Advisors Inc. grew its stake in Cinemark by 13.8% in the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after acquiring an additional 241,600 shares during the last quarter.

Cinemark Stock Performance

NYSE:CNK opened at $31.82 on Friday. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 15.67 and a beta of 1.91. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The firm’s fifty day simple moving average is $27.51 and its 200 day simple moving average is $29.46.

Cinemark (NYSE:CNK) last posted its earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). The company had revenue of $540.70 million during the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, equities research analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.01%. Cinemark’s dividend payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CNK shares. Macquarie reiterated an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. Barrington Research restated an “outperform” rating and issued a $36.00 price objective on shares of Cinemark in a research report on Monday, May 5th. Wells Fargo & Company cut their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley lowered their price target on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. One equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Insider Buying and Selling at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total transaction of $226,296.00. Following the completion of the transaction, the executive vice president now owns 210,968 shares in the company, valued at approximately $6,630,724.24. The trade was a 3.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wanda Marie Gierhart sold 9,119 shares of the company’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 transaction of $246,213.00. Following the completion of the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This represents a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

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.