Ritholtz Wealth Management Acquires Shares of 17,582 Cinemark Holdings, Inc. (NYSE:CNK)

Ritholtz Wealth Management bought a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,582 shares of the company's stock, valued at approximately $489,000.

Several other institutional investors and hedge funds have also bought and sold shares of CNK. GAMMA Investing LLC grew its position in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock valued at $56,000 after purchasing an additional 1,040 shares in the last quarter. USA Financial Formulas purchased a new position in Cinemark during the third quarter worth about $77,000. CWM LLC grew its position in Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after buying an additional 1,716 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock worth $68,000 after acquiring an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Cinemark in the 2nd quarter valued at about $79,000.

Analysts Set New Price Targets

Several research analysts have recently commented on CNK shares. B. Riley lowered Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price objective for the company. in a report on Tuesday, August 27th. Roth Capital upgraded shares of Cinemark from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 24th. Wedbush upped their target price on shares of Cinemark from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 3rd. StockNews.com downgraded Cinemark from a "hold" rating to a "sell" rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their price objective on Cinemark from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.10.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company's stock.

Cinemark Trading Down 0.1 %

Cinemark stock traded down $0.04 during trading hours on Wednesday, reaching $28.67. The company had a trading volume of 1,515,271 shares, compared to its average volume of 2,881,879. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.94 and a beta of 2.36. Cinemark Holdings, Inc. has a 12-month low of $13.19 and a 12-month high of $29.87. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The company has a 50-day moving average price of $27.64 and a 200 day moving average price of $22.26.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm's revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. Equities analysts forecast that Cinemark Holdings, Inc. will post 1.41 earnings per share for the current year.

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.