Wakefield Asset Management LLLP Invests $1.08 Million in Cinemark Holdings, Inc. (NYSE:CNK)

Wakefield Asset Management LLLP purchased a new stake in Cinemark Holdings, Inc. (NYSE:CNK) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 49,945 shares of the company’s stock, valued at approximately $1,080,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in Cinemark during the fourth quarter worth $3,000,000. New York State Common Retirement Fund raised its stake in shares of Cinemark by 8.1% during the 4th quarter. New York State Common Retirement Fund now owns 72,372 shares of the company’s stock worth $1,020,000 after buying an additional 5,452 shares during the last quarter. Versor Investments LP boosted its position in shares of Cinemark by 252.4% in the 4th quarter. Versor Investments LP now owns 54,152 shares of the company’s stock worth $763,000 after buying an additional 38,786 shares in the last quarter. NBC Securities Inc. grew its stake in Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after acquiring an additional 700 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new position in Cinemark during the 4th quarter valued at about $254,000.

Cinemark Stock Down 1.7 %

CNK opened at $28.09 on Friday. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month high of $28.70. The business has a 50-day moving average of $24.37 and a two-hundred day moving average of $20.15. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 2.04 and a beta of 2.36.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.07 by $0.25. The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. Cinemark’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, research analysts expect that Cinemark Holdings, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on CNK shares. Morgan Stanley upped their price target on shares of Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Barrington Research downgraded Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Macquarie upped their price objective on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research report on Tuesday, August 27th. Finally, Wedbush upped their target price on shares of Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.20.

Insider Buying and Selling

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

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.