Connor Clark & Lunn Investment Management Ltd. Acquires 29,295 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 88.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,239 shares of the company’s stock after purchasing an additional 29,295 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cinemark were worth $1,733,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Nut Tree Capital Management LP bought a new stake in Cinemark during the 1st quarter worth approximately $13,250,000. Assenagon Asset Management S.A. bought a new stake in shares of Cinemark during the third quarter worth $12,133,000. Hennessy Advisors Inc. raised its holdings in shares of Cinemark by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after acquiring an additional 234,400 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Cinemark by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock worth $63,012,000 after acquiring an additional 148,076 shares during the period. Finally, PEAK6 Investments LLC bought a new stake in Cinemark in the 1st quarter valued at $2,274,000.

Cinemark Stock Performance

Shares of CNK stock opened at $33.25 on Tuesday. The stock has a market cap of $4.07 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.64 and a beta of 2.35. The company has a fifty day moving average price of $29.36 and a two-hundred day moving average price of $24.73. Cinemark Holdings, Inc. has a one year low of $13.19 and a one year high of $34.26. 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 (NYSE:CNK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. The business had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. Cinemark’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.61 earnings per share. As a group, equities analysts predict that Cinemark Holdings, Inc. will post 2 EPS for the current year.

Analysts Set New Price Targets

CNK has been the subject of a number of research reports. 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 report on Thursday, October 31st. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Roth Mkm boosted their target price on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target on shares of Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. 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 report on Friday, November 1st. One research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.80.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark 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 approximately $5,873,543.72. The trade was a 12.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by company insiders.

Cinemark 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.