Commonwealth Equity Services LLC Sells 1,361 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Commonwealth Equity Services LLC trimmed its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,844 shares of the company’s stock after selling 1,361 shares during the period. Commonwealth Equity Services LLC owned about 0.30% of Cinemark worth $7,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Third Point LLC purchased a new position in shares of Cinemark in the 1st quarter valued at $89,850,000. Dimensional Fund Advisors LP grew its stake in Cinemark by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock valued at $36,195,000 after purchasing an additional 213,593 shares during the last quarter. Steadfast Capital Management LP purchased a new position in Cinemark in the first quarter valued at about $29,323,000. Hennessy Advisors Inc. raised its holdings in Cinemark by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after purchasing an additional 234,400 shares in the last quarter. Finally, Park West Asset Management LLC lifted its position in shares of Cinemark by 34.3% during the fourth quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock valued at $16,556,000 after buying an additional 300,000 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNK. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Wedbush upped their price target on Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Tuesday. Roth Capital raised Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research report on Tuesday, August 27th. Finally, Macquarie increased their price target on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cinemark currently has an average rating of “Moderate Buy” and a consensus target price of $25.20.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Monday, August 19th. The stock was 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by insiders.

Cinemark Trading Down 1.7 %

Cinemark stock opened at $28.10 on Friday. The stock has a 50-day moving average price of $24.37 and a 200 day moving average price of $20.15. The company 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 Holdings, Inc. has a 52 week low of $13.19 and a 52 week high of $28.70. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. The business had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. Sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.35 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.