Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 0.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 215,000 shares of the company’s stock after selling 800 shares during the period. Swiss National Bank’s holdings in Cinemark were worth $5,986,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new stake in Cinemark during the third quarter valued at about $12,133,000. Hennessy Advisors Inc. increased its position in 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. Dimensional Fund Advisors LP raised its holdings in Cinemark by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after buying an additional 148,076 shares during the period. Maverick Capital Ltd. acquired a new position in Cinemark during the second quarter valued at approximately $2,253,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Cinemark by 18.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock worth $14,629,000 after buying an additional 103,875 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CNK. JPMorgan Chase & Co. lifted their target price on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Barrington Research raised 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. Wells Fargo & Company raised their target price on Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 1st. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Finally, Macquarie lifted their price objective on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.80.

Insiders Place Their Bets

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Cinemark Price Performance

Shares of CNK stock opened at $32.83 on Wednesday. The firm has a market cap of $4.02 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.64 and a beta of 2.35. The firm has a fifty day moving average of $29.54 and a two-hundred day moving average of $24.95. 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 1-year low of $13.19 and a 1-year high of $34.26.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. During the same period in the previous year, the business earned $0.61 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts anticipate 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.