Victory Capital Management Inc. Sells 978,440 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Victory Capital Management Inc. cut its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 38.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,572,379 shares of the company's stock after selling 978,440 shares during the quarter. Victory Capital Management Inc. owned about 1.28% of Cinemark worth $43,775,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of 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 period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock worth $68,000 after buying an additional 877 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Cinemark in the third quarter valued at about $77,000. 1620 Investment Advisors Inc. bought a new position in Cinemark during the second quarter worth about $79,000. Finally, CWM LLC raised its stake in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after purchasing an additional 1,716 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. B. Riley cut shares of 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. StockNews.com upgraded Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, November 10th. Barrington Research upgraded Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 target price for the company in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price target on Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a research report on Thursday, September 19th. Finally, Roth Mkm boosted their price target on Cinemark from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.80.

Cinemark Price Performance

Shares of CNK stock traded down $0.14 on Friday, reaching $31.84. The company had a trading volume of 1,978,362 shares, compared to its average volume of 2,838,805. The business's 50-day moving average is $28.95 and its 200 day moving average is $24.10. Cinemark Holdings, Inc. has a one year low of $13.19 and a one year high of $33.11. 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 has a market capitalization of $3.90 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.59 and a beta of 2.35.

Cinemark (NYSE:CNK - Get Free Report) last issued 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. The business had revenue of $921.80 million during 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 firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. Equities research analysts forecast that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

Insider Activity

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now directly owns 204,729 shares of the company's stock, valued at $5,566,581.51. The trade was a 10.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.

Cinemark Company 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.