Boothbay Fund Management LLC Increases Stake in Cinemark Holdings Inc $CNK

Boothbay Fund Management LLC increased its stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 14.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,055 shares of the company's stock after purchasing an additional 44,354 shares during the period. Boothbay Fund Management LLC owned 0.30% of Cinemark worth $8,688,000 as of its most recent filing with the Securities & Exchange Commission.

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Several other large investors also recently bought and sold shares of CNK. Elequin Capital LP raised its holdings in shares of Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after buying an additional 677 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Cinemark by 242.9% in the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company's stock worth $88,000 after acquiring an additional 2,502 shares during the last quarter. CWM LLC raised its stake in Cinemark by 20.6% in the 1st quarter. CWM LLC now owns 6,548 shares of the company's stock worth $163,000 after acquiring an additional 1,118 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Cinemark during the 4th quarter worth about $221,000. Finally, Numerai GP LLC purchased a new stake in Cinemark during the 4th quarter valued at about $233,000.

Cinemark Stock Performance

Shares of CNK stock opened at $25.45 on Thursday. 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 Holdings Inc has a 12-month low of $23.12 and a 12-month high of $36.28. The business's 50 day moving average is $27.73 and its two-hundred day moving average is $28.41. The company has a market capitalization of $2.93 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.85 and a beta of 1.85.

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Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The business had revenue of $940.50 million for the quarter, compared to analyst estimates of $942.14 million. During the same period in the previous year, the company earned $0.32 earnings per share. The company's quarterly revenue was up 28.1% compared to the same quarter last year. Analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, August 27th. Cinemark's dividend payout ratio is 17.49%.

Analyst Ratings Changes

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CNK has been the subject of several research analyst reports. B. Riley began coverage on Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective for the company. Roth Capital cut their price target on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Benchmark restated a "buy" rating and set a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a report on Monday, August 4th. Finally, Wall Street Zen raised shares of Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.67.

Check Out Our Latest Stock Analysis on Cinemark

Insider Transactions at Cinemark

In related news, insider Wanda Marie Gierhart sold 52,524 shares of Cinemark stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the sale, the insider directly owned 94,890 shares in the company, valued at approximately $3,022,246.50. The trade was a 35.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $181,224.00. Following the sale, the executive vice president owned 203,768 shares of the company's stock, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

Cinemark 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.

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Want to see what other hedge funds are holding CNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cinemark Holdings Inc (NYSE:CNK - Free Report).

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