Amalgamated Bank Cuts Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Amalgamated Bank lessened its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 31,621 shares of the company’s stock after selling 1,095 shares during the quarter. Amalgamated Bank’s holdings in Cinemark were worth $880,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System lifted its stake in Cinemark by 1.8% in the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock worth $662,000 after acquiring an additional 556 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Cinemark by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock worth $2,209,000 after purchasing an additional 612 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares in the last quarter. GAMMA Investing LLC increased its holdings in Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in Cinemark by 5.9% in the second quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock valued at $444,000 after buying an additional 1,148 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Macquarie upped their price objective on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their price objective on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. 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 report on Thursday, October 31st. Finally, Morgan Stanley lifted their price target on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Trading Up 0.5 %

Shares of Cinemark stock opened at $31.98 on Friday. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The company has a market capitalization of $3.91 billion, a P/E ratio of 20.63, a PEG ratio of 1.64 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’s fifty day moving average is $28.80 and its two-hundred day moving average is $23.94.

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

Insider Activity

In related 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 transaction of $817,000.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.