Entropy Technologies LP Invests $893,000 in Cinemark Holdings, Inc. (NYSE:CNK)

Entropy Technologies LP purchased a new position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 32,065 shares of the company's stock, valued at approximately $893,000.

Other large investors also recently added to or reduced their stakes in the company. Third Point LLC purchased a new position in shares of Cinemark in the 1st quarter worth approximately $89,850,000. Dimensional Fund Advisors LP increased its position in Cinemark by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company's stock valued at $63,012,000 after acquiring an additional 148,076 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Cinemark by 1.4% in the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company's stock valued at $55,149,000 after acquiring an additional 35,993 shares during the period. Steadfast Capital Management LP bought a new stake in shares of Cinemark in the 1st quarter worth about $29,323,000. Finally, Hennessy Advisors Inc. boosted its stake in shares of Cinemark by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company's stock worth $33,083,000 after purchasing an additional 234,400 shares during the period.

Cinemark Stock Up 0.9 %

Shares of CNK traded up $0.29 during mid-day trading on Thursday, hitting $32.10. The company's stock had a trading volume of 594,711 shares, compared to its average volume of 2,834,762. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The company's 50-day moving average is $28.80 and its 200-day moving average is $23.94. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $33.11. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.64 and a beta of 2.35.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results 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. 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 quarter in the prior year, the business earned $0.61 earnings per share. Cinemark's revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CNK. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $25.00 to $29.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. StockNews.com raised Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday. Macquarie upped their price objective on Cinemark from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. B. Riley downgraded 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. Finally, Morgan Stanley upped their price target on shares of Cinemark from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.80.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the transaction, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate 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.