State of New Jersey Common Pension Fund D Invests $1.96 Million in Cinemark Holdings, Inc. (NYSE:CNK)

State of New Jersey Common Pension Fund D bought a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 70,414 shares of the company’s stock, valued at approximately $1,960,000. State of New Jersey Common Pension Fund D owned 0.06% of Cinemark as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CNK. GAMMA Investing LLC grew its holdings in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares during the period. USA Financial Formulas purchased a new position in Cinemark in the 3rd quarter worth approximately $77,000. 1620 Investment Advisors Inc. purchased a new position in Cinemark in the 2nd quarter worth approximately $79,000. Finally, CWM LLC boosted its holdings 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 acquiring an additional 1,716 shares during the period.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value 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 trade represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Cinemark Stock Performance

CNK stock opened at $31.84 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The firm has a market cap of $3.90 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.60 and a beta of 2.35. Cinemark Holdings, Inc. has a 12-month low of $13.19 and a 12-month high of $33.11. The stock’s 50 day simple moving average is $28.95 and its 200 day simple moving average is $24.14.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping 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 analyst estimates of $894.90 million. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts predict that Cinemark Holdings, Inc. will post 2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Roth Mkm upped their price target on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Wells Fargo & Company increased their target price on Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Wedbush cut Cinemark from a “strong-buy” rating to a “hold” 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and a consensus target price of $30.80.

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.