Polar Asset Management Partners Inc. Has $2.67 Million Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Polar Asset Management Partners Inc. decreased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 70.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,900 shares of the company's stock after selling 232,800 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.08% of Cinemark worth $2,670,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System grew its position in shares of Cinemark by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 30,636 shares of the company's stock worth $662,000 after buying an additional 556 shares during the period. Natixis Advisors LLC increased its position in shares of Cinemark by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company's stock valued at $575,000 after purchasing an additional 583 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock worth $68,000 after acquiring an additional 877 shares during the period. GAMMA Investing LLC lifted its position in Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock valued at $56,000 after purchasing an additional 1,040 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Cinemark by 5.9% during the 2nd quarter. QRG Capital Management Inc. now owns 20,557 shares of the company's stock valued at $444,000 after buying an additional 1,148 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently commented on CNK. The Goldman Sachs Group boosted their target price on Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a research report on Thursday, September 19th. B. Riley lowered Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 target price for the company. in a research report on Tuesday, August 27th. 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. Macquarie boosted their price target on Cinemark from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Benchmark raised their target price on Cinemark from $32.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday. One equities 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 given a strong buy rating to the company. According to data from MarketBeat, Cinemark presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.80.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the transaction, the insider now directly owns 179,729 shares of the company's stock, valued at $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

Cinemark Trading Down 0.7 %

Shares of CNK traded down $0.26 on Friday, hitting $35.18. 1,723,551 shares of the stock traded hands, compared to its average volume of 2,845,549. Cinemark Holdings, Inc. has a 1 year low of $13.19 and a 1 year high of $36.28. The stock's 50 day moving average is $30.69 and its two-hundred day moving average is $25.80. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The firm has a market capitalization of $4.30 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.78 and a beta of 2.38.

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