Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in Cinemark Holdings, Inc. (NYSE:CNK) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,938 shares of the company’s stock after selling 1,707 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cinemark were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CNK. Sei Investments Co. lifted its stake in shares of Cinemark by 38.1% in the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after purchasing an additional 31,739 shares in the last quarter. PEAK6 Investments LLC acquired a new stake in shares of Cinemark in the first quarter worth $2,274,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Cinemark by 18.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock worth $14,629,000 after acquiring an additional 103,875 shares in the last quarter. US Bancorp DE raised its stake in shares of Cinemark by 68.8% in the 1st quarter. US Bancorp DE now owns 34,846 shares of the company’s stock valued at $626,000 after acquiring an additional 14,200 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in shares of Cinemark during the 2nd quarter valued at $2,253,000.

Cinemark Price Performance

CNK opened at $29.85 on Friday. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $31.09. The company has a 50-day moving average of $28.24 and a 200-day moving average of $23.19. The company has a market capitalization of $3.65 billion, a P/E ratio of 30.77, a PEG ratio of 2.07 and a beta of 2.36.

Cinemark (NYSE:CNK) last announced 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. The firm had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. Cinemark’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Equities analysts expect that Cinemark Holdings, Inc. will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction 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 sale, the insider now directly owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNK. Wells Fargo & Company raised their price objective on Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley raised their target price on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. The Goldman Sachs Group upped their price target on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. Roth Mkm lifted their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.80.

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.