Bridgewater Associates LP Buys Shares of 43,276 Cinemark Holdings, Inc. (NYSE:CNK)

Bridgewater Associates LP purchased a new stake in Cinemark Holdings, Inc. (NYSE:CNK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 43,276 shares of the company’s stock, valued at approximately $1,341,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Cinemark by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after acquiring an additional 25,857 shares in the last quarter. Castellan Group bought a new stake in shares of Cinemark during the 3rd quarter valued at approximately $6,130,000. Franklin Resources Inc. increased its position in Cinemark by 6.8% during the 3rd quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock worth $1,651,000 after purchasing an additional 3,632 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Cinemark by 18.8% in the 3rd 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. Finally, GAMMA Investing LLC boosted its position in Cinemark by 44.9% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $91,000 after buying an additional 906 shares in the last quarter.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’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 value of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Cinemark Price Performance

CNK stock opened at $28.47 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The company’s fifty day simple moving average is $26.49 and its 200 day simple moving average is $29.20. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 14.02 and a beta of 2.07.

Cinemark (NYSE:CNK) last released its earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate 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 return on equity of 65.83% and a net margin of 10.16%. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) EPS. On average, analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a research note on Wednesday, February 19th. Wedbush reissued a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Benchmark dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Morgan Stanley reduced their target price 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. One 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.10.

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.