Hennessy Advisors Inc. Acquires 241,600 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Hennessy Advisors Inc. raised its holdings in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,989,300 shares of the company's stock after buying an additional 241,600 shares during the quarter. Cinemark makes up approximately 1.8% of Hennessy Advisors Inc.'s holdings, making the stock its 9th largest holding. Hennessy Advisors Inc. owned 1.63% of Cinemark worth $61,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Decker Retirement Planning Inc. purchased a new position in Cinemark in the fourth quarter valued at approximately $4,725,000. Ritholtz Wealth Management increased its position in shares of Cinemark by 104.5% in the fourth quarter. Ritholtz Wealth Management now owns 35,953 shares of the company's stock worth $1,114,000 after acquiring an additional 18,371 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Cinemark by 44.9% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $91,000 after acquiring an additional 906 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Cinemark by 18.8% during the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company's stock valued at $17,533,000 after acquiring an additional 99,843 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Cinemark by 6.8% during the 3rd quarter. Franklin Resources Inc. now owns 56,757 shares of the company's stock worth $1,651,000 after purchasing an additional 3,632 shares during the period.

Cinemark Stock Up 0.2 %

NYSE:CNK traded up $0.06 during mid-day trading on Friday, reaching $28.64. The stock had a trading volume of 1,585,175 shares, compared to its average volume of 1,700,600. The stock's 50 day simple moving average is $31.96 and its two-hundred day simple moving average is $28.44. Cinemark Holdings, Inc. has a 1-year low of $13.45 and a 1-year high of $36.28. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.55 and a beta of 2.40. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating 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 in the previous year, the business earned $0.61 EPS. The business's quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that Cinemark Holdings, Inc. will post 2.06 EPS for the current year.

Insider Activity at Cinemark

In related 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 transaction of $817,000.00. Following the completion of the transaction, 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 this hyperlink. Insiders own 2.30% of the company's stock.

Analyst Ratings Changes

CNK has been the topic of several research reports. Barrington Research raised Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 price objective on the stock in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price target on Cinemark from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Roth Mkm increased their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Wedbush lowered shares of Cinemark from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $32.80.

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.