60,643 Shares in Cinemark Holdings, Inc. (NYSE:CNK) Bought by Seven Eight Capital LP

Seven Eight Capital LP purchased a new stake in Cinemark Holdings, Inc. (NYSE:CNK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,643 shares of the company’s stock, valued at approximately $1,311,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CNK. Third Point LLC bought a new stake in shares of Cinemark in the first quarter valued at about $89,850,000. Steadfast Capital Management LP bought a new stake in shares of Cinemark in the 1st quarter worth approximately $29,323,000. Hennessy Advisors Inc. bought a new stake in shares of Cinemark in the 4th quarter worth approximately $16,001,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Cinemark during the 1st quarter worth approximately $15,975,000. Finally, Nut Tree Capital Management LP bought a new stake in shares of Cinemark during the first quarter valued at approximately $13,250,000.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Cinemark Trading Down 1.0 %

CNK stock opened at $28.33 on Friday. The business has a fifty day moving average price of $25.75 and a 200 day moving average price of $20.97. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $29.07. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.12 and a beta of 2.36.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Analysts expect that Cinemark Holdings, Inc. will post 1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

CNK has been the subject of several research reports. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a research report on Tuesday, August 27th. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Barrington Research lowered shares of Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group lifted their price objective on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a report on Thursday. Finally, Benchmark reissued a “buy” rating and issued a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and a consensus target price of $26.00.

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.