Quantbot Technologies LP Purchases Shares of 24,667 Cinemark Holdings, Inc. (NYSE:CNK)

Quantbot Technologies LP purchased a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,667 shares of the company's stock, valued at approximately $687,000.

A number of other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System increased its stake in Cinemark by 1.8% in the second quarter. Arizona State Retirement System now owns 30,636 shares of the company's stock valued at $662,000 after purchasing an additional 556 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Cinemark by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company's stock worth $575,000 after acquiring an additional 583 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Cinemark by 38.7% in the second 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. GAMMA Investing LLC increased its position in Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock worth $56,000 after purchasing an additional 1,040 shares during the last quarter. Finally, QRG Capital Management Inc. boosted 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 during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNK. The Goldman Sachs Group raised their price objective on Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a report on Thursday, September 19th. Benchmark upped their price target on shares of Cinemark from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Morgan Stanley raised their target price on Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Finally, Wells Fargo & Company upped their price target on Cinemark from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cinemark has an average rating of "Moderate Buy" and an average price target of $32.80.

Insider Buying and Selling

In other news, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the transaction, the insider now owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by company insiders.

Cinemark Stock Performance

CNK traded down $0.83 during trading on Tuesday, reaching $35.19. 1,011,880 shares of the company were exchanged, compared to its average volume of 2,853,729. The stock has a market cap of $4.31 billion, a P/E ratio of 22.74, a PEG ratio of 1.73 and a beta of 2.38. The firm has a 50 day moving average of $30.06 and a 200 day moving average of $25.41. Cinemark Holdings, Inc. has a 52 week low of $13.19 and a 52 week high of $36.28. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business had revenue of $921.80 million during the quarter, compared to analysts' expectations of $894.90 million. During the same period last year, the firm posted $0.61 earnings per share. The business's revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

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.