Easterly Investment Partners LLC Decreases Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Easterly Investment Partners LLC cut its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 57.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,477 shares of the company's stock after selling 255,625 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.15% of Cinemark worth $5,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System lifted its stake in Cinemark by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 30,636 shares of the company's stock valued at $662,000 after buying an additional 556 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Cinemark by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company's stock valued at $2,209,000 after buying an additional 612 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock valued at $68,000 after buying an additional 877 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock valued at $56,000 after buying an additional 1,040 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Cinemark by 5.9% in the 2nd quarter. QRG Capital Management Inc. now owns 20,557 shares of the company's stock valued at $444,000 after acquiring an additional 1,148 shares during the last quarter.

Cinemark Trading Down 0.2 %

Shares of NYSE:CNK traded down $0.06 during mid-day trading on Friday, reaching $31.51. 1,650,429 shares of the company were exchanged, compared to its average volume of 2,855,768. 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 firm has a market cap of $3.86 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 1.64 and a beta of 2.35. The firm's 50-day simple moving average is $28.51 and its 200 day simple moving average is $23.59. Cinemark Holdings, Inc. has a 1 year low of $13.19 and a 1 year high of $31.87.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million during the quarter, compared to analysts' expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. Equities research analysts forecast that Cinemark Holdings, Inc. will post 1.8 EPS for the current year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the transaction, the insider now owns 204,729 shares of the company's stock, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on CNK shares. Wedbush downgraded shares of Cinemark from a "strong-buy" rating to a "hold" rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Monday, October 14th. StockNews.com downgraded shares of Cinemark from a "hold" rating to a "sell" rating in a report on Saturday, November 2nd. The Goldman Sachs Group increased their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a "sell" rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company increased their price objective on shares of Cinemark from $31.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.80.

Cinemark 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.