State of New Jersey Common Pension Fund D Invests $1.96 Million in Cinemark Holdings, Inc. (NYSE:CNK)

State of New Jersey Common Pension Fund D acquired a new position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 70,414 shares of the company's stock, valued at approximately $1,960,000. State of New Jersey Common Pension Fund D owned 0.06% of Cinemark at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Third Point LLC acquired a new stake in Cinemark during the first quarter valued at approximately $89,850,000. Dimensional Fund Advisors LP raised its stake in Cinemark by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company's stock worth $63,012,000 after acquiring an additional 148,076 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Cinemark by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company's stock valued at $55,149,000 after purchasing an additional 35,993 shares in the last quarter. Steadfast Capital Management LP bought a new stake in shares of Cinemark in the 1st quarter worth about $29,323,000. Finally, Hennessy Advisors Inc. increased its position in shares of Cinemark by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company's stock worth $33,083,000 after purchasing an additional 234,400 shares in the last quarter.

Wall Street Analysts Forecast Growth

CNK has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $25.00 to $29.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Wedbush cut Cinemark from a "strong-buy" rating to a "hold" rating in a report on Friday, November 1st. Macquarie boosted their price objective on Cinemark from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. B. Riley cut Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 target price on the stock. in a report on Tuesday, August 27th. Finally, Morgan Stanley lifted their price target on Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cinemark currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.80.

Cinemark Trading Up 0.5 %

Cinemark stock traded up $0.16 during trading hours on Monday, reaching $32.00. 2,040,142 shares of the company's stock traded hands, compared to its average volume of 2,835,224. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.60 and a beta of 2.35. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $33.11. The firm's 50 day moving average is $28.95 and its 200-day moving average is $24.19.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share 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 for the quarter, compared to analyst estimates of $894.90 million. During the same period in the prior year, the business posted $0.61 earnings per share. Cinemark's revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Cinemark Holdings, Inc. will post 2 earnings per share for the current year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company'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 transaction, the insider now owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Cinemark 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.