Tabor Asset Management LP Boosts Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Tabor Asset Management LP increased its holdings in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 25.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 333,906 shares of the company's stock after acquiring an additional 68,237 shares during the quarter. Cinemark comprises approximately 4.5% of Tabor Asset Management LP's portfolio, making the stock its 6th biggest position. Tabor Asset Management LP owned 0.27% of Cinemark worth $9,296,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aigen Investment Management LP increased its position in Cinemark by 198.9% during the 3rd quarter. Aigen Investment Management LP now owns 49,400 shares of the company's stock valued at $1,375,000 after buying an additional 32,870 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Cinemark by 88.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company's stock worth $1,733,000 after acquiring an additional 29,295 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Cinemark during the third quarter valued at $1,960,000. Entropy Technologies LP bought a new position in Cinemark in the 3rd quarter worth about $893,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake 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 in the last quarter.

Insider Activity at Cinemark

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CNK. Roth Mkm upped their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Barrington Research upgraded Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a research note on Thursday, October 31st. Benchmark boosted their price target on Cinemark from $32.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday. B. Riley cut Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price objective on the stock. in a research report on Tuesday, August 27th. Finally, Wedbush lowered Cinemark from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cinemark presently has an average rating of "Moderate Buy" and an average price target of $32.80.

Cinemark Stock Performance

Shares of CNK stock traded down $0.67 during trading hours on Friday, reaching $34.77. 701,240 shares of the company traded hands, compared to its average volume of 2,841,113. The firm has a 50-day moving average price of $30.54 and a 200 day moving average price of $25.67. The company has a market cap of $4.25 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.78 and a beta of 2.38. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a 12-month low of $13.19 and a 12-month high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 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 firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. During the same period last year, the firm earned $0.61 EPS. The company's revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Cinemark Holdings, Inc. will post 2 earnings per share 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.