Jacobs Levy Equity Management Inc. Acquires New Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Jacobs Levy Equity Management Inc. purchased a new position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 90,210 shares of the company's stock, valued at approximately $2,511,000. Jacobs Levy Equity Management Inc. owned 0.07% of Cinemark at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 148,076 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Cinemark by 1.4% in the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company's stock valued at $55,149,000 after buying an additional 35,993 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Cinemark by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company's stock valued at $33,083,000 after buying an additional 234,400 shares during the last quarter. Maverick Capital Ltd. grew its holdings in shares of 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 buying an additional 1,413,557 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Cinemark by 18.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company's stock worth $14,629,000 after acquiring an additional 103,875 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNK. Benchmark raised their price target on shares of Cinemark from $32.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. StockNews.com raised Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, November 10th. B. Riley downgraded shares of Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price objective on the stock. in a report on Tuesday, August 27th. Roth Mkm increased their target price on shares of Cinemark from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Finally, Macquarie raised their price target on shares of Cinemark from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $32.80.

Insider Activity at Cinemark

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

Cinemark Stock Performance

Shares of CNK stock traded down $0.26 during trading hours on Friday, hitting $35.18. 1,723,672 shares of the company were exchanged, compared to its average volume of 2,664,984. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 1.77 and a beta of 2.38. The firm has a fifty day simple moving average of $30.69 and a 200 day simple moving average of $25.91. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $36.28.

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

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.