Geode Capital Management LLC Purchases 25,857 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Geode Capital Management LLC lifted its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 1.1% during the third quarter, HoldingsChannel reports. The firm owned 2,449,567 shares of the company’s stock after buying an additional 25,857 shares during the quarter. Geode Capital Management LLC’s holdings in Cinemark were worth $68,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CNK. Quarry LP lifted its holdings in Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 1,308 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Cinemark by 106.1% during the third 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. lifted its holdings in shares of Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Cinemark in the 3rd quarter valued at approximately $77,000. Finally, CWM LLC increased its stake in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after purchasing an additional 1,716 shares in the last quarter.

Cinemark Trading Down 1.7 %

Shares of Cinemark stock opened at $30.83 on Friday. Cinemark Holdings, Inc. has a 12-month low of $13.19 and a 12-month high of $36.28. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The business’s 50 day moving average is $31.62 and its 200-day moving average is $26.89. The stock has a market cap of $3.77 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.66 and a beta of 2.38.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The company had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Equities research analysts predict that Cinemark Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CNK has been the topic of a number of research reports. Roth Mkm lifted their price target 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. Barrington Research raised 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, October 31st. Morgan Stanley lifted their price target on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, Benchmark lifted their target price on Cinemark from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the transaction, 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 can be accessed through this link. Company insiders own 2.30% of the company’s stock.

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.