Royal London Asset Management Ltd. Raises Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Royal London Asset Management Ltd. grew its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,264,614 shares of the company's stock after buying an additional 29,275 shares during the quarter. Royal London Asset Management Ltd. owned 1.03% of Cinemark worth $35,207,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Aigen Investment Management LP raised its position in Cinemark by 198.9% in the 3rd quarter. Aigen Investment Management LP now owns 49,400 shares of the company's stock worth $1,375,000 after purchasing an additional 32,870 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Cinemark by 88.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company's stock worth $1,733,000 after purchasing an additional 29,295 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Cinemark in the 3rd quarter worth about $1,960,000. Entropy Technologies LP purchased a new stake in Cinemark in the 3rd quarter worth about $893,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Cinemark by 18.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company's stock worth $14,629,000 after purchasing an additional 103,875 shares during the period.

Wall Street Analysts Forecast Growth

CNK has been the topic of a number of recent analyst reports. Barrington Research raised shares of Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 price objective on the stock in a research report on Thursday, October 31st. B. Riley lowered shares of Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 target price on the stock. in a research report on Tuesday, August 27th. Roth Mkm raised their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. StockNews.com raised shares of Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, November 10th. Finally, Wells Fargo & Company raised their target price on shares of Cinemark from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.80.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Cinemark Stock Down 0.7 %

Shares of NYSE CNK traded down $0.26 during midday trading on Friday, reaching $35.18. 1,723,551 shares of the company's stock traded hands, compared to its average volume of 2,845,549. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The stock's 50 day simple moving average is $30.69 and its 200-day simple moving average is $25.80. Cinemark Holdings, Inc. has a one year low of $13.19 and a one year high of $36.28. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 1.78 and a beta of 2.38.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. On average, analysts predict 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.