Wellington Management Group LLP Sells 1,716,256 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Wellington Management Group LLP lowered its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 12.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,544,212 shares of the company's stock after selling 1,716,256 shares during the period. Wellington Management Group LLP owned about 9.43% of Cinemark worth $321,391,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Aigen Investment Management LP grew its stake in shares of Cinemark by 198.9% during the 3rd quarter. Aigen Investment Management LP now owns 49,400 shares of the company's stock valued at $1,375,000 after purchasing an additional 32,870 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Cinemark by 88.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company's stock worth $1,733,000 after buying an additional 29,295 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Cinemark during the third quarter valued at approximately $1,960,000. Entropy Technologies LP purchased a new stake in Cinemark during the third quarter valued at approximately $893,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Cinemark by 18.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company's stock worth $14,629,000 after acquiring an additional 103,875 shares during the period.

Cinemark Price Performance

Shares of Cinemark stock traded down $0.26 on Friday, hitting $35.18. 1,723,672 shares of the company traded hands, compared to its average volume of 2,664,984. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The business has a 50-day simple moving average of $30.69 and a 200 day simple moving average of $25.85. Cinemark Holdings, Inc. has a 52 week low of $13.19 and a 52 week high of $36.28. The stock has a market capitalization of $4.30 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.77 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 analysts' consensus estimates of $0.58 by $0.61. The company had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. Cinemark's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. Research analysts expect that Cinemark Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Roth Mkm boosted 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. StockNews.com raised Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, November 10th. Morgan Stanley raised their price objective on Cinemark from $29.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Wedbush downgraded Cinemark from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 1st. Finally, Macquarie raised their target price on shares of Cinemark from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.80.

Insider Buying and Selling

In other Cinemark 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 transaction, the insider now owns 179,729 shares in the company, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by company insiders.

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.