Hussman Strategic Advisors Inc. Invests $976,000 in Cinemark Holdings, Inc. (NYSE:CNK)

Hussman Strategic Advisors Inc. purchased a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 31,500 shares of the company’s stock, valued at approximately $976,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC grew its position in shares of Cinemark by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after buying an additional 583 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 purchasing an additional 906 shares during the last quarter. Quarry LP lifted its stake in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Cinemark by 4.4% during the 4th quarter. New York State Common Retirement Fund now owns 35,628 shares of the company’s stock worth $1,104,000 after purchasing an additional 1,501 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after purchasing an additional 1,716 shares during the last quarter.

Cinemark Trading Down 3.0 %

Cinemark stock opened at $27.72 on Friday. The stock has a 50-day moving average of $30.33 and a two-hundred day moving average of $29.75. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. Cinemark Holdings, Inc. has a one year low of $15.74 and a one year high of $36.28. The stock has a market cap of $3.39 billion, a PE ratio of 17.88 and a beta of 2.38.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The firm had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) earnings per share. On average, research analysts anticipate that Cinemark Holdings, Inc. will post 2.08 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Macquarie restated an “outperform” rating and set a $35.00 price objective on shares of Cinemark in a research note on Thursday. Benchmark decreased their price objective on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley decreased their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Barrington Research reiterated an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

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.