Hodges Capital Management Inc. Sells 58,710 Shares of Cinemark Holdings Inc $CNK

Hodges Capital Management Inc. decreased its position in Cinemark Holdings Inc (NYSE:CNK) by 22.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 200,741 shares of the company’s stock after selling 58,710 shares during the period. Hodges Capital Management Inc.’s holdings in Cinemark were worth $6,058,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in Cinemark by 106.9% during the second quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company’s stock worth $78,147,000 after acquiring an additional 1,338,153 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Cinemark during the first quarter worth about $32,297,000. Wellington Management Group LLP lifted its holdings in shares of Cinemark by 12.9% during the 1st quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company’s stock valued at $232,643,000 after purchasing an additional 1,066,225 shares in the last quarter. Rivermont Capital Management LP acquired a new position in shares of Cinemark in the 1st quarter valued at approximately $11,000,000. Finally, Kodai Capital Management LP acquired a new position in shares of Cinemark in the 1st quarter valued at approximately $8,465,000.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the transaction, the executive vice president owned 203,768 shares of the company’s stock, valued at $5,128,840.56. The trade was a 3.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

Cinemark Stock Down 1.7%

Cinemark stock opened at $28.50 on Monday. The company has a market cap of $3.35 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 1.96 and a beta of 1.69. Cinemark Holdings Inc has a 1-year low of $23.12 and a 1-year high of $36.28. The company has a fifty day simple moving average of $27.19 and a 200 day simple moving average of $28.78. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The business had revenue of $857.50 million for the quarter, compared to the consensus estimate of $851.47 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.19 earnings per share. Research analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.3%. This is a boost from Cinemark’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, November 28th. Cinemark’s payout ratio is currently 34.62%.

Analyst Ratings Changes

Several analysts have commented on CNK shares. Wells Fargo & Company restated an “overweight” rating and set a $33.00 target price (down from $36.00) on shares of Cinemark in a report on Monday, August 4th. Roth Capital restated a “buy” rating and set a $35.00 price objective on shares of Cinemark in a report on Wednesday. Morgan Stanley reduced their target price on shares of Cinemark from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Wall Street Zen raised Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cinemark in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.30.

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.