QRG Capital Management Inc. Buys 557 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

QRG Capital Management Inc. boosted its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,730 shares of the company’s stock after purchasing an additional 557 shares during the quarter. QRG Capital Management Inc.’s holdings in Cinemark were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNK. Versor Investments LP boosted its holdings in shares of Cinemark by 49.6% in the 4th quarter. Versor Investments LP now owns 33,800 shares of the company’s stock valued at $1,047,000 after buying an additional 11,200 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in Cinemark by 10.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 59,305 shares of the company’s stock valued at $1,837,000 after acquiring an additional 5,706 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Cinemark during the fourth quarter valued at approximately $477,000. Hussman Strategic Advisors Inc. acquired a new stake in Cinemark in the fourth quarter valued at approximately $976,000. Finally, Handelsbanken Fonder AB grew its holdings in Cinemark by 9.3% in the fourth quarter. Handelsbanken Fonder AB now owns 23,432 shares of the company’s stock worth $726,000 after purchasing an additional 2,000 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CNK. Wells Fargo & Company decreased their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Benchmark decreased their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Wedbush restated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Finally, Barrington Research reissued an “outperform” rating and set a $40.00 target price on shares of Cinemark in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the 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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Cinemark Stock Performance

Shares of NYSE CNK opened at $24.41 on Wednesday. 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 12 month low of $16.32 and a 12 month high of $36.28. The company has a 50 day simple moving average of $29.47 and a two-hundred day simple moving average of $29.78. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 12.03 and a beta of 2.38.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $814.30 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. As a group, analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently announced a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is 15.76%.

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.