Bwcp LP Takes $24.69 Million Position in Cinemark Holdings Inc $CNK

Bwcp LP acquired a new position in shares of Cinemark Holdings Inc (NYSE:CNK) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 818,011 shares of the company’s stock, valued at approximately $24,688,000. Cinemark comprises approximately 4.0% of Bwcp LP’s holdings, making the stock its 12th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP grew its stake in Cinemark by 758.9% in the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after purchasing an additional 3,973,689 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Cinemark by 106.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company’s stock valued at $78,147,000 after buying an additional 1,338,153 shares during the last quarter. Nuveen LLC bought a new stake in shares of Cinemark in the 1st quarter valued at approximately $32,297,000. Squarepoint Ops LLC increased its holdings in Cinemark by 119.9% in the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock worth $65,808,000 after buying an additional 1,188,709 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Cinemark by 12.9% during the first quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company’s stock valued at $232,643,000 after acquiring an additional 1,066,225 shares in the last quarter.

Insider Buying and Selling

In other news, EVP Melissa Thomas sold 22,082 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total transaction of $547,854.42. Following the completion of the transaction, the executive vice president directly owned 167,360 shares in the company, valued at $4,152,201.60. The trade was a 11.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group set a $35.00 target price on shares of Cinemark in a research report on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Cinemark from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Morgan Stanley lowered their target price on shares of Cinemark from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Roth Capital reaffirmed a “buy” rating and issued a $35.00 price target on shares of Cinemark in a research report on Wednesday, November 5th. Finally, Barrington Research reiterated an “outperform” rating and set a $36.00 price target on shares of Cinemark in a research note on Tuesday, September 23rd. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.27.

Cinemark Stock Performance

Shares of CNK opened at $24.59 on Friday. The company has a market capitalization of $2.89 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. Cinemark Holdings Inc has a one year low of $21.61 and a one year high of $34.01. The company’s fifty day moving average price is $27.01 and its 200 day moving average price is $28.17.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The firm had revenue of $857.50 million for the quarter, compared to the consensus estimate of $851.47 million. Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $1.19 earnings per share. As a group, analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.09 dividend. This is an increase from Cinemark’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.5%. Cinemark’s payout ratio is 34.62%.

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.