Cinemark Holdings, Inc. (NYSE:CNK) Stake Lessened by Inspire Advisors LLC

Inspire Advisors LLC decreased its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 21.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,436 shares of the company’s stock after selling 2,909 shares during the quarter. Inspire Advisors LLC’s holdings in Cinemark were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Cinemark during the 2nd quarter worth about $242,000. Texas Permanent School Fund Corp lifted its position in shares of Cinemark by 9.5% in the second quarter. Texas Permanent School Fund Corp now owns 101,403 shares of the company’s stock worth $2,192,000 after purchasing an additional 8,812 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Cinemark during the second quarter worth approximately $1,080,000. Arizona State Retirement System grew its position in Cinemark by 1.8% during the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock valued at $662,000 after purchasing an additional 556 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Cinemark by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after buying an additional 35,993 shares during the period.

Wall Street Analyst Weigh In

CNK has been the subject of a number of research reports. Barrington Research lowered shares of Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. Benchmark reissued a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research report on Monday, July 1st. Wedbush upped their target price on Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a research note on Tuesday, August 27th. Finally, Macquarie boosted 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and an average price target of $25.20.

Cinemark Stock Up 0.5 %

Shares of Cinemark stock opened at $28.75 on Monday. Cinemark Holdings, Inc. has a 12-month low of $13.19 and a 12-month high of $29.07. The stock has a market capitalization of $3.52 billion, a P/E ratio of 19.83, a PEG ratio of 2.12 and a beta of 2.36. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The stock has a 50 day moving average price of $25.21 and a two-hundred day moving average price of $20.71.

Cinemark (NYSE:CNK) last announced its 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. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. During the same quarter last year, the firm posted $0.80 EPS. The business’s quarterly revenue was down 22.1% on a year-over-year basis. Equities analysts expect that Cinemark Holdings, Inc. will post 1.33 earnings per share for the current year.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

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.