Cinemark Holdings, Inc. (NYSE:CNK) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 88.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 62,239 shares of the company's stock after buying an additional 29,295 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Cinemark worth $1,733,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Cinemark by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company's stock valued at $63,012,000 after purchasing an additional 148,076 shares during the last quarter. Victory Capital Management Inc. grew its position in Cinemark by 1.4% during the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company's stock worth $55,149,000 after buying an additional 35,993 shares in the last quarter. Hennessy Advisors Inc. raised its position in shares of Cinemark by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company's stock valued at $33,083,000 after buying an additional 234,400 shares in the last quarter. Nut Tree Capital Management LP bought a new stake in shares of Cinemark during the 1st quarter worth $13,250,000. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Cinemark by 18.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company's stock worth $14,629,000 after purchasing an additional 103,875 shares in the last quarter.

Cinemark Price Performance

CNK traded down $0.42 on Tuesday, hitting $32.83. 7,899,459 shares of the company's stock were exchanged, compared to its average volume of 2,858,057. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $34.26. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.64 and a beta of 2.35. The firm has a 50-day moving average price of $29.45 and a 200-day moving average price of $24.84. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46.

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 return on equity of 60.21% and a net margin of 8.36%. The company had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. During the same period in the prior year, the business posted $0.61 earnings per share. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cinemark Holdings, Inc. will post 2 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNK. Roth Mkm lifted their target price on Cinemark from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Barrington Research upgraded shares of Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a research note on Thursday, October 31st. Wedbush downgraded shares of Cinemark from a "strong-buy" rating to a "hold" rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price target on Cinemark from $31.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group raised their price target on shares of Cinemark from $16.00 to $20.00 and gave the company a "sell" rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.80.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now directly owns 179,729 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company's stock.

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.