Wellington Management Group LLP Has $256.53 Million Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Wellington Management Group LLP reduced its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 28.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,280,631 shares of the company’s stock after selling 3,263,581 shares during the period. Wellington Management Group LLP owned approximately 6.77% of Cinemark worth $256,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNK. O Shaughnessy Asset Management LLC lifted its stake in shares of Cinemark by 121.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 60,597 shares of the company’s stock valued at $1,877,000 after purchasing an additional 33,197 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. denkapparat Operations GmbH acquired a new position in Cinemark in the fourth quarter valued at about $291,000. New Age Alpha Advisors LLC bought a new position in Cinemark during the fourth quarter worth about $183,000. Finally, Norges Bank acquired a new position in shares of Cinemark during the 4th quarter worth about $25,623,000.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Cinemark Price Performance

Shares of CNK opened at $24.56 on Wednesday. The company has a 50 day moving average of $27.39 and a 200-day moving average of $29.36. 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 stock has a market capitalization of $3.00 billion, a P/E ratio of 12.10 and a beta of 2.41. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted ($0.15) earnings per share. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. As a group, equities research analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on CNK shares. Morgan Stanley reduced their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Macquarie reissued an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered 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. Wedbush reissued a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research note on Tuesday, February 18th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.