Chartwell Investment Partners LLC Sells 319,671 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Chartwell Investment Partners LLC reduced its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 45.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 381,122 shares of the company's stock after selling 319,671 shares during the period. Chartwell Investment Partners LLC owned 0.31% of Cinemark worth $10,610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Third Point LLC bought a new position in shares of Cinemark in the first quarter worth approximately $89,850,000. Steadfast Capital Management LP purchased a new stake in shares of Cinemark during the first quarter valued at $29,323,000. Jericho Capital Asset Management L.P. bought a new stake in Cinemark during the 1st quarter valued at $15,975,000. Nut Tree Capital Management LP bought a new stake in shares of Cinemark in the 1st quarter valued at about $13,250,000. Finally, Assenagon Asset Management S.A. bought a new stake in Cinemark during the 3rd quarter valued at $12,133,000.

Cinemark Stock Performance

Shares of CNK traded up $0.66 during trading hours on Monday, reaching $32.17. 735,532 shares of the company traded hands, compared to its average volume of 2,846,042. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $32.33. The stock has a market cap of $3.94 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 1.58 and a beta of 2.35. The stock's fifty day moving average is $28.51 and its 200 day moving average is $23.67. 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 (NYSE:CNK - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.61. The business had revenue of $921.80 million for the quarter, compared to analysts' expectations of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. Cinemark's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. Equities research analysts anticipate that Cinemark Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Cinemark from $25.00 to $29.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. B. Riley cut Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 target price for the company. in a report on Tuesday, August 27th. Macquarie boosted 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. The Goldman Sachs Group raised their price objective on shares of Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company raised their price target on shares of Cinemark from $31.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.80.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company's stock, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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.