Cinemark Holdings, Inc. (NYSE:CNK) Stock Holdings Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,679 shares of the company's stock after selling 39,119 shares during the period. Assenagon Asset Management S.A. owned approximately 0.32% of Cinemark worth $12,289,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Quarry LP grew its position in Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company's stock worth $42,000 after buying an additional 1,308 shares in the last quarter. GAMMA Investing LLC grew its stake in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock worth $56,000 after buying an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock valued at $68,000 after buying an additional 877 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Cinemark during the 3rd quarter valued at $77,000. Finally, CWM LLC grew its position in Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after acquiring an additional 1,716 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CNK. StockNews.com raised Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, November 10th. Benchmark reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Friday, January 10th. Barrington Research upgraded shares of Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a research report on Thursday, October 31st. Morgan Stanley boosted their price objective on Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Wedbush lowered Cinemark from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cinemark has a consensus rating of "Moderate Buy" and a consensus price target of $32.80.

Insider Activity

In related 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 value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company's stock.

Cinemark Price Performance

Shares of NYSE CNK traded up $0.06 during mid-day trading on Friday, reaching $28.64. The company's stock had a trading volume of 1,585,175 shares, compared to its average volume of 1,700,600. 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 1-year low of $13.45 and a 1-year high of $36.28. The stock has a 50-day moving average of $31.96 and a two-hundred day moving average of $28.44. The stock has a market capitalization of $3.50 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.55 and a beta of 2.40.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.58 by $0.61. The company had revenue of $921.80 million during 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 revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, equities research analysts anticipate that Cinemark Holdings, Inc. will post 2.06 EPS 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.