Marshall Wace LLP Has $6.61 Million Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Marshall Wace LLP lessened its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 69.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 305,673 shares of the company's stock after selling 695,551 shares during the period. Marshall Wace LLP owned about 0.25% of Cinemark worth $6,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CNK. Third Point LLC bought a new stake in Cinemark in the 1st quarter valued at $89,850,000. Steadfast Capital Management LP acquired a new stake in shares of Cinemark during the 1st quarter valued at about $29,323,000. Hennessy Advisors Inc. bought a new stake in Cinemark in the fourth quarter valued at about $16,001,000. Jericho Capital Asset Management L.P. acquired a new position in Cinemark in the first quarter worth about $15,975,000. Finally, Nut Tree Capital Management LP bought a new position in Cinemark during the first quarter worth about $13,250,000.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now owns 204,729 shares of the company's stock, valued at approximately $5,566,581.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

Cinemark Price Performance

Shares of NYSE CNK traded down $0.37 during trading on Tuesday, reaching $27.47. The company had a trading volume of 2,665,115 shares, compared to its average volume of 2,919,437. Cinemark Holdings, Inc. has a 52 week low of $13.19 and a 52 week high of $29.07. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The business's 50 day moving average price is $26.64 and its 200-day moving average price is $21.50. The stock has a market cap of $3.36 billion, a PE ratio of 19.20, a PEG ratio of 2.07 and a beta of 2.36.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share 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 net margin of 5.05% and a return on equity of 41.87%. Cinemark's revenue was down 22.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 EPS. Analysts expect that Cinemark Holdings, Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CNK. JPMorgan Chase & Co. upped their price objective on Cinemark from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, August 5th. Macquarie lifted their price objective on Cinemark from $21.00 to $24.00 and gave the company an "outperform" rating in a report on Tuesday, July 9th. B. Riley downgraded shares of Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 target price on the stock. in a research note on Tuesday, August 27th. Roth Mkm increased their target price on shares of Cinemark from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Barrington Research lowered shares of Cinemark from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and a consensus target price of $26.00.

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.