Entropy Technologies LP Acquires Shares of 32,065 Cinemark Holdings, Inc. (NYSE:CNK)

Entropy Technologies LP purchased a new position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 32,065 shares of the company's stock, valued at approximately $893,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock worth $56,000 after acquiring an additional 1,040 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of 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 purchasing an additional 877 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Cinemark during the third quarter worth about $77,000. 1620 Investment Advisors Inc. purchased a new stake in Cinemark in the second quarter valued at approximately $79,000. Finally, CWM LLC increased its holdings in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after buying an additional 1,716 shares during the period.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the transaction, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on CNK. Morgan Stanley lifted their price objective on shares of Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. B. Riley downgraded shares of 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. JPMorgan Chase & Co. increased their price target on Cinemark from $25.00 to $29.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Macquarie boosted their price objective on Cinemark from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Roth Mkm raised 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cinemark presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.80.

Cinemark Price Performance

Shares of NYSE:CNK traded up $0.29 during midday trading on Thursday, reaching $32.10. 594,711 shares of the company's stock traded hands, compared to its average volume of 2,834,762. The company has a fifty day simple moving average of $28.80 and a two-hundred day simple moving average of $23.94. The company has a market cap of $3.93 billion, a P/E ratio of 20.92, a PEG ratio of 1.64 and a beta of 2.35. Cinemark Holdings, Inc. has a 1 year low of $13.19 and a 1 year high of $33.11. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98.

Cinemark (NYSE:CNK - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share 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 company had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. During the same period in the previous year, the company posted $0.61 EPS. Cinemark's revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

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.