Trexquant Investment LP Sells 234,302 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Trexquant Investment LP trimmed its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 54.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,669 shares of the company’s stock after selling 234,302 shares during the quarter. Trexquant Investment LP owned 0.16% of Cinemark worth $2,799,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Cinemark during the 4th quarter worth approximately $7,333,000. First Dallas Securities Inc. lifted its stake in Cinemark by 2,363.4% in the third quarter. First Dallas Securities Inc. now owns 511,152 shares of the company’s stock worth $9,380,000 after acquiring an additional 490,402 shares during the period. Jump Financial LLC increased its holdings in shares of Cinemark by 2,874.3% during the third quarter. Jump Financial LLC now owns 313,642 shares of the company’s stock valued at $5,755,000 after acquiring an additional 303,097 shares in the last quarter. Peconic Partners LLC purchased a new stake in Cinemark in the 3rd quarter worth approximately $5,505,000. Finally, Wellington Management Group LLP raised its stake in Cinemark by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company’s stock valued at $248,646,000 after purchasing an additional 232,619 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CNK. Barrington Research reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a research note on Monday, May 6th. Roth Mkm upped their price objective on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Wells Fargo & Company upgraded shares of Cinemark from an “underweight” rating to an “overweight” rating and raised their target price for the company from $13.00 to $23.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their price objective on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cinemark presently has a consensus rating of “Hold” and a consensus target price of $20.33.

Insider Activity

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the transaction, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by company insiders.

Cinemark Trading Up 0.7 %

Shares of CNK stock traded up $0.13 on Friday, reaching $17.88. 1,377,535 shares of the stock were exchanged, compared to its average volume of 2,916,845. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $20.40. The stock has a market cap of $2.19 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.58 and a beta of 2.25. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The firm has a 50 day moving average of $17.96 and a two-hundred day moving average of $16.03.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.40. The company had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. Cinemark’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) earnings per share. On average, research analysts anticipate that Cinemark Holdings, Inc. will post 1.12 EPS for the current year.

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.