R Squared Ltd Acquires Shares of 2,020 Cinemark Holdings, Inc. (NYSE:CNK)

R Squared Ltd acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,020 shares of the company’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Cinemark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock valued at $68,209,000 after purchasing an additional 25,857 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in Cinemark by 13.8% in the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after purchasing an additional 241,600 shares in the last quarter. Maverick Capital Ltd. raised its holdings in shares of Cinemark by 1,356.4% during the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after acquiring an additional 1,413,557 shares during the period. Royal London Asset Management Ltd. raised its holdings in shares of Cinemark by 2.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company’s stock worth $35,207,000 after acquiring an additional 29,275 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Cinemark by 1,532.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock worth $18,102,000 after acquiring an additional 610,398 shares during the period.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was 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 directly owns 179,729 shares of the company’s stock, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CNK. Macquarie lifted their price target on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company reduced their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday. Wedbush lowered Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of Cinemark in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

Cinemark Stock Performance

NYSE CNK opened at $28.62 on Friday. The company has a market cap of $3.50 billion, a P/E ratio of 18.46 and a beta of 2.40. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The stock has a 50-day moving average of $31.27 and a two-hundred day moving average of $28.90. Cinemark Holdings, Inc. has a 1-year low of $13.45 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last released its earnings results 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. The company had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. Cinemark’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. As a group, analysts anticipate that Cinemark Holdings, Inc. will post 2.06 EPS for the current 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.