Amalgamated Bank Reduces Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Amalgamated Bank reduced its position in Cinemark Holdings, Inc. (NYSE:CNK) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,621 shares of the company’s stock after selling 1,095 shares during the quarter. Amalgamated Bank’s holdings in Cinemark were worth $880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position 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 during the last quarter. USA Financial Formulas acquired a new stake in Cinemark in the 3rd quarter valued at about $77,000. CWM LLC lifted 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. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Cinemark in the second quarter valued at approximately $79,000.

Analysts Set New Price Targets

CNK has been the topic of a number of recent research reports. Macquarie boosted their price objective on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. The Goldman Sachs Group boosted their price target on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. Wells Fargo & Company upped their price objective on shares of Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 1st. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Tuesday, August 27th. Finally, Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Stock Up 0.5 %

Shares of NYSE CNK opened at $31.98 on Friday. 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 business’s 50 day moving average is $28.80 and its two-hundred day moving average is $23.94. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $33.11. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.64 and a beta of 2.35.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts predict that Cinemark Holdings, Inc. will post 2 EPS for the current year.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the sale, the insider now directly 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. Corporate insiders own 2.30% of the company’s stock.

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.