GSA Capital Partners LLP Purchases New Position in Cinemark Holdings, Inc. (NYSE:CNK)

GSA Capital Partners LLP purchased a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,529 shares of the company’s stock, valued at approximately $572,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Entropy Technologies LP bought a new stake in shares of Cinemark during the third quarter valued at approximately $893,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Cinemark during the third quarter valued at approximately $1,960,000. Crossmark Global Holdings Inc. bought a new stake in shares of Cinemark during the third quarter valued at approximately $209,000. Principal Financial Group Inc. increased its position in shares of Cinemark by 18.8% during the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after acquiring an additional 99,843 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Cinemark during the third quarter valued at approximately $12,133,000.

Cinemark Trading Up 0.5 %

Shares of Cinemark stock opened at $32.00 on Tuesday. The company’s fifty day simple moving average is $28.95 and its 200-day simple moving average is $24.19. The stock has a market capitalization of $3.92 billion, a PE ratio of 20.65, a P/E/G ratio of 1.60 and a beta of 2.35. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $33.11. 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 released its 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 net margin of 8.36% and a return on equity of 60.21%. The company had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. During the same quarter in the previous year, the company earned $0.61 EPS. Cinemark’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Cinemark Holdings, Inc. will post 2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNK. Morgan Stanley raised their target price on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Macquarie raised their target price on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company raised their target price on shares of Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group raised their target price on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction on Tuesday, November 12th. The shares were 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 in the company, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by corporate insiders.

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.