Man Group plc Buys Shares of 905,105 Cinemark Holdings, Inc. (NYSE:CNK)

Man Group plc bought a new position in Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 905,105 shares of the company’s stock, valued at approximately $28,040,000. Man Group plc owned about 0.74% of Cinemark as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CNK. Nuveen Asset Management LLC grew its holdings in shares of Cinemark by 5.0% in the fourth quarter. Nuveen Asset Management LLC now owns 402,442 shares of the company’s stock valued at $12,468,000 after purchasing an additional 19,238 shares during the period. Numerai GP LLC acquired a new position in Cinemark in the 4th quarter valued at about $233,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cinemark by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,827 shares of the company’s stock valued at $1,946,000 after purchasing an additional 2,416 shares during the last quarter. Moore Capital Management LP purchased a new stake in shares of Cinemark in the 4th quarter valued at approximately $4,930,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Cinemark by 15.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 104,499 shares of the company’s stock worth $3,237,000 after buying an additional 14,289 shares during the last quarter.

Insiders Place Their Bets

In other news, EVP Melissa Thomas sold 7,200 shares of the 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 sale, the executive vice president now directly owns 210,968 shares in the company, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $246,213.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CNK. Macquarie reiterated an “outperform” rating and issued a $35.00 price objective on shares of Cinemark in a report on Thursday, February 20th. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a research note on Monday, May 5th. Morgan Stanley lowered their price target on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Wells Fargo & Company reduced their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cinemark currently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Stock Performance

NYSE CNK opened at $31.82 on Friday. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The company has a market cap of $3.66 billion, a P/E ratio of 15.67 and a beta of 1.91. The stock has a 50-day moving average of $27.51 and a two-hundred day moving average of $29.46. Cinemark Holdings, Inc. has a 1-year low of $16.32 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business had revenue of $540.70 million during the quarter, compared to analyst estimates of $604.62 million. During the same quarter last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.01%. Cinemark’s dividend payout ratio is presently 21.05%.

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.