Intech Investment Management LLC Boosts Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Intech Investment Management LLC raised its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 139.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,155 shares of the company's stock after buying an additional 28,051 shares during the quarter. Intech Investment Management LLC's holdings in Cinemark were worth $1,341,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CNK. Connor Clark & Lunn Investment Management Ltd. lifted its position in Cinemark by 88.9% during 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 in the last quarter. Quest Partners LLC purchased a new position in shares of Cinemark during the 3rd quarter worth $115,000. Natixis Advisors LLC boosted its position in shares of Cinemark by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company's stock valued at $575,000 after acquiring an additional 583 shares during the last quarter. Aigen Investment Management LP increased its position in Cinemark by 198.9% during the third quarter. Aigen Investment Management LP now owns 49,400 shares of the company's stock worth $1,375,000 after purchasing an additional 32,870 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Cinemark during the third quarter worth about $572,000.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was 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 directly owns 179,729 shares of the company's stock, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company's stock.

Cinemark Stock Performance

NYSE CNK opened at $32.83 on Wednesday. The company has a market cap of $4.02 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.67 and a beta of 2.35. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $34.26. 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 stock has a 50-day moving average of $29.54 and a two-hundred day moving average of $24.95.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm had revenue of $921.80 million during the quarter, compared to analysts' expectations of $894.90 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Cinemark Holdings, Inc. will post 2 EPS for the current year.

Wall Street Analysts Forecast Growth

CNK has been the subject of several analyst reports. StockNews.com raised shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, November 10th. Roth Mkm lifted their target price on Cinemark from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their price target on Cinemark from $31.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Morgan Stanley raised their price objective on Cinemark from $29.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Finally, Macquarie upped their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.80.

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.