Hodges Capital Management Inc. Lowers Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Hodges Capital Management Inc. lowered its holdings in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 44.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 316,290 shares of the company's stock after selling 250,986 shares during the quarter. Hodges Capital Management Inc. owned 0.26% of Cinemark worth $8,806,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in Cinemark in the 3rd quarter valued at about $474,000. Tabor Asset Management LP raised its stake in shares of Cinemark by 25.7% in the 3rd quarter. Tabor Asset Management LP now owns 333,906 shares of the company's stock valued at $9,296,000 after acquiring an additional 68,237 shares during the period. Sora Investors LLC purchased a new stake in shares of Cinemark in the 3rd quarter valued at approximately $1,114,000. Quarry LP boosted its position in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company's stock worth $42,000 after purchasing an additional 1,308 shares during the period. Finally, Royal London Asset Management Ltd. increased its holdings in Cinemark by 2.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company's stock valued at $35,207,000 after purchasing an additional 29,275 shares during the last quarter.

Cinemark Stock Down 0.7 %

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

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

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on CNK shares. Barrington Research upgraded Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 price target on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price target on shares of Cinemark from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. StockNews.com raised shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, November 10th. Finally, The Goldman Sachs Group increased their target price on shares of Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Cinemark has a consensus rating of "Moderate Buy" and an average price target 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.