Two Sigma Investments LP Acquires 265,785 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Two Sigma Investments LP grew its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 1,237.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 287,263 shares of the company’s stock after purchasing an additional 265,785 shares during the period. Two Sigma Investments LP’s holdings in Cinemark were worth $8,899,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CNK. Teza Capital Management LLC increased its position in Cinemark by 11.5% during the 4th quarter. Teza Capital Management LLC now owns 11,695 shares of the company’s stock valued at $362,000 after buying an additional 1,206 shares in the last quarter. State of Wyoming grew its stake in shares of Cinemark by 122.4% in the fourth quarter. State of Wyoming now owns 24,013 shares of the company’s stock worth $744,000 after acquiring an additional 13,217 shares during the last quarter. Simcoe Capital Management LLC bought a new position in shares of Cinemark during the fourth quarter valued at $37,763,000. Sora Investors LLC raised its position in shares of Cinemark by 302.2% in the 4th quarter. Sora Investors LLC now owns 160,899 shares of the company’s stock worth $4,985,000 after purchasing an additional 120,899 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Cinemark by 44.6% in the 4th quarter. ProShare Advisors LLC now owns 33,191 shares of the company’s stock worth $1,028,000 after purchasing an additional 10,237 shares during the last quarter.

Insider Buying and Selling at Cinemark

In other 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 transaction of $246,213.00. Following the transaction, the insider now owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Melissa Thomas sold 7,200 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the sale, the executive vice president now owns 210,968 shares of the company’s stock, valued at $6,630,724.24. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Cinemark Trading Up 0.2%

NYSE:CNK opened at $32.50 on Friday. The company has a market cap of $3.74 billion, a PE ratio of 16.01 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 company has a 50 day simple moving average of $28.44 and a two-hundred day simple moving average of $29.54. Cinemark Holdings, Inc. has a 12 month low of $16.32 and a 12 month high of $36.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting 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%. Cinemark’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. Research analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. Cinemark’s dividend payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CNK shares. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Morgan Stanley cut their price target on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Benchmark reduced their price target on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. B. Riley initiated coverage on Cinemark in a research report on Friday, May 16th. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

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.