Cinemark Holdings, Inc. (NYSE:CNK) Stock Position Reduced by Axa S.A.

AXA S.A. cut its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 29.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 220,765 shares of the company's stock after selling 92,750 shares during the quarter. AXA S.A. owned about 0.18% of Cinemark worth $4,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNK. Arizona State Retirement System boosted its position 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 during the period. CANADA LIFE ASSURANCE Co grew its holdings in Cinemark by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company's stock worth $2,209,000 after acquiring an additional 612 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of 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 purchasing an additional 877 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of 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 purchasing an additional 1,148 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Cinemark by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the company's stock worth $1,161,000 after purchasing an additional 1,200 shares during the last quarter.

Cinemark Stock Performance

CNK stock remained flat at $27.84 during trading on Monday. 1,505,557 shares of the company were exchanged, compared to its average volume of 2,920,790. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $29.07. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The stock has a market cap of $3.41 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.07 and a beta of 2.36. The firm's 50-day moving average is $26.52 and its 200 day moving average is $21.44.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.25. The firm had revenue of $734.20 million during the quarter, compared to analysts' expectations of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. Cinemark's revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. As a group, equities research analysts forecast that Cinemark Holdings, Inc. will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CNK shares. StockNews.com lowered shares of Cinemark from a "hold" rating to a "sell" rating in a research note on Tuesday, August 13th. Morgan Stanley boosted their price objective on Cinemark from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. The Goldman Sachs Group raised their target price on shares of Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a research report on Thursday, September 19th. Macquarie upped their price target on shares of Cinemark from $21.00 to $24.00 and gave the company an "outperform" rating in a research report on Tuesday, July 9th. Finally, Benchmark reissued a "buy" rating and set a $23.00 price objective on shares of Cinemark in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.00.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company's stock, valued at approximately $5,566,581.51. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.30% of the company's stock.

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.