Optimist Retirement Group LLC Makes New $257,000 Investment in Cinemark Holdings, Inc. (NYSE:CNK)

Optimist Retirement Group LLC acquired a new position in Cinemark Holdings, Inc. (NYSE:CNK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,300 shares of the company’s stock, valued at approximately $257,000.

A number of other hedge funds have also made changes to their positions in CNK. The Manufacturers Life Insurance Company increased its holdings in Cinemark by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 62,287 shares of the company’s stock valued at $1,347,000 after purchasing an additional 2,603 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Cinemark in the second quarter worth about $238,000. GAMMA Investing LLC grew its stake in shares of Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares in the last quarter. CWM LLC raised its holdings in shares of Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares during the period. Finally, USA Financial Formulas acquired a new position in Cinemark during the 3rd quarter worth approximately $77,000.

Wall Street Analyst Weigh In

CNK has been the topic of a number of analyst reports. Roth Mkm lifted their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their price target on shares of Cinemark from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Morgan Stanley boosted their price objective on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company lowered their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the transaction, the insider now directly 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Cinemark Stock Up 3.6 %

NYSE:CNK opened at $30.52 on Thursday. The stock has a 50-day simple moving average of $31.12 and a 200 day simple moving average of $29.13. Cinemark Holdings, Inc. has a one year low of $13.45 and a one year high of $36.28. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 19.69 and a beta of 2.38. 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 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.