International Assets Investment Management LLC acquired a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 34,215 shares of the company's stock, valued at approximately $9,530,000.
Several other hedge funds also recently bought and sold shares of the business. Third Point LLC bought a new stake in shares of Cinemark during the first quarter worth $89,850,000. Steadfast Capital Management LP bought a new stake in Cinemark during the 1st quarter valued at about $29,323,000. Jericho Capital Asset Management L.P. purchased a new stake in Cinemark in the 1st quarter valued at about $15,975,000. Nut Tree Capital Management LP purchased a new stake in Cinemark in the 1st quarter valued at about $13,250,000. Finally, Hennessy Advisors Inc. grew its stake in Cinemark by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company's stock worth $33,083,000 after acquiring an additional 234,400 shares in the last quarter.
Cinemark Stock Down 2.3 %
Shares of NYSE CNK traded down $0.70 during trading hours on Thursday, hitting $29.78. 4,232,281 shares of the stock were exchanged, compared to its average volume of 2,861,420. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month high of $31.09. The firm has a fifty day moving average price of $28.15 and a 200-day moving average price of $23.03. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The company has a market cap of $3.64 billion, a PE ratio of 30.80, a PEG ratio of 1.94 and a beta of 2.36.
Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. During the same quarter in the prior year, the business posted $0.80 EPS. The business's revenue for the quarter was down 22.1% compared to the same quarter last year. On average, sell-side analysts expect that Cinemark Holdings, Inc. will post 1.41 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on CNK shares. StockNews.com downgraded shares of Cinemark from a "hold" rating to a "sell" rating in a research note on Thursday, October 24th. Morgan Stanley lifted their target price on Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Wells Fargo & Company increased their price target on Cinemark from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Finally, Barrington Research upgraded shares of Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.40.
Get Our Latest Analysis on CNK
Insider Transactions at Cinemark
In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company's stock.
Cinemark Profile
(
Free Report)
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.
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