Easterly Investment Partners LLC Has $1.23 Million Position in Cinemark Holdings, Inc. (NYSE:CNK)

Easterly Investment Partners LLC cut its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 78.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,718 shares of the company’s stock after selling 148,759 shares during the period. Easterly Investment Partners LLC’s holdings in Cinemark were worth $1,230,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CNK. Quarry LP increased its stake in Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after acquiring an additional 1,308 shares during the last quarter. R Squared Ltd acquired a new position in shares of Cinemark during the 4th quarter worth $63,000. GAMMA Investing LLC lifted its position in shares of Cinemark by 44.9% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $91,000 after buying an additional 906 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Cinemark by 198.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock valued at $103,000 after buying an additional 2,207 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Cinemark in the third quarter valued at about $115,000.

Cinemark Trading Down 1.3 %

CNK opened at $25.71 on Friday. The stock has a market cap of $3.14 billion, a PE ratio of 12.67 and a beta of 2.41. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28. The company has a fifty day moving average of $27.62 and a 200-day moving average of $29.42.

Cinemark (NYSE:CNK) last announced its quarterly earnings data 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). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, sell-side analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

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

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CNK. Barrington Research restated an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Morgan Stanley dropped 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. Wedbush restated a “neutral” rating and set a $32.00 price objective on shares of Cinemark in a research report on Tuesday, February 18th. Finally, Benchmark cut their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $32.70.

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.