Royal London Asset Management Ltd. Cuts Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Royal London Asset Management Ltd. cut its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,247,136 shares of the company’s stock after selling 17,478 shares during the quarter. Royal London Asset Management Ltd. owned about 1.02% of Cinemark worth $38,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CNK. Natixis Advisors LLC increased its position in shares of Cinemark by 2.9% during the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after acquiring an additional 583 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Cinemark during the third quarter worth about $115,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Cinemark by 88.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock worth $1,733,000 after acquiring an additional 29,295 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Cinemark by 139.5% during the third quarter. Intech Investment Management LLC now owns 48,155 shares of the company’s stock worth $1,341,000 after acquiring an additional 28,051 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Cinemark by 137.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 120,090 shares of the company’s stock worth $3,343,000 after acquiring an additional 69,414 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently commented on CNK shares. 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. JPMorgan Chase & Co. decreased their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Morgan Stanley decreased their price target on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company decreased their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the business’s 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 directly owns 147,414 shares in the company, valued at $3,980,178. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by corporate insiders.

Cinemark Trading Up 1.3 %

NYSE CNK opened at $26.43 on Friday. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 13.02 and a beta of 2.41. The firm’s 50 day moving average price is $27.98 and its two-hundred day moving average price is $29.50.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. Equities analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The business also recently declared a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio is currently 15.76%.

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.