First National Bank of Hutchinson Sells 50,537 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

First National Bank of Hutchinson trimmed its position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 67.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,480 shares of the company's stock after selling 50,537 shares during the quarter. First National Bank of Hutchinson's holdings in Cinemark were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Third Point LLC acquired a new stake in shares of Cinemark in the first quarter worth about $89,850,000. Steadfast Capital Management LP bought a new stake in Cinemark during the first quarter worth approximately $29,323,000. Jericho Capital Asset Management L.P. acquired a new position in Cinemark during the first quarter valued at approximately $15,975,000. Nut Tree Capital Management LP acquired a new position in Cinemark during the first quarter valued at approximately $13,250,000. Finally, Hennessy Advisors Inc. raised its position in shares of Cinemark by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company's stock valued at $33,083,000 after purchasing an additional 234,400 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. Wedbush raised their price target on Cinemark from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Tuesday, September 3rd. Roth Mkm boosted their price objective on Cinemark from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Benchmark reaffirmed a "buy" rating and issued a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. Finally, Macquarie lifted their price target on Cinemark from $21.00 to $24.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.10.

Cinemark Stock Performance

Shares of CNK traded down $0.14 on Thursday, reaching $28.20. 1,656,305 shares of the stock traded hands, compared to its average volume of 2,853,006. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 19.45, 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 stock's 50-day moving average price is $27.95 and its 200-day moving average price is $22.69. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26.

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

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the firm'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 transaction of $679,750.00. Following the completion of the transaction, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company's stock.

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.