Sora Investors LLC Takes $1.11 Million Position in Cinemark Holdings, Inc. (NYSE:CNK)

Sora Investors LLC acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,000 shares of the company's stock, valued at approximately $1,114,000.

A number of other hedge funds have also modified their holdings of the company. Maverick Capital Ltd. lifted its position in Cinemark by 1,356.4% during the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company's stock valued at $42,255,000 after purchasing an additional 1,413,557 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Cinemark by 1,532.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company's stock valued at $18,102,000 after buying an additional 610,398 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Cinemark in the 3rd quarter valued at about $12,133,000. Hennessy Advisors Inc. boosted its stake in shares of Cinemark by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company's stock worth $33,083,000 after buying an additional 234,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Cinemark by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company's stock worth $63,012,000 after acquiring an additional 148,076 shares during the period.

Cinemark Price Performance

Shares of NYSE:CNK traded down $0.64 during trading on Friday, reaching $34.80. The stock had a trading volume of 508,691 shares, compared to its average volume of 2,840,273. The business has a fifty day moving average price of $30.54 and a 200-day moving average price of $25.67. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $36.28. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The stock has a market cap of $4.26 billion, a PE ratio of 22.85, a PEG ratio of 1.78 and a beta of 2.38.

Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.61. The company had revenue of $921.80 million for the quarter, compared to analysts' expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. On average, equities analysts forecast that Cinemark Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNK. B. Riley downgraded Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price target for the company. in a report on Tuesday, August 27th. Morgan Stanley increased their target price on shares of Cinemark from $29.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their price target on Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their price target on Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a research report on Thursday, September 19th. Finally, Wedbush cut Cinemark from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.80.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

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.