Federated Hermes Inc. Cuts Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Federated Hermes Inc. reduced its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 798,738 shares of the company’s stock after selling 56,033 shares during the quarter. Federated Hermes Inc. owned about 0.65% of Cinemark worth $17,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. 1620 Investment Advisors Inc. purchased a new stake in shares of Cinemark during the 2nd quarter valued at $79,000. Fifth Third Bancorp increased its stake in Cinemark by 414.4% in the second quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock valued at $97,000 after acquiring an additional 3,609 shares during the last quarter. First Dallas Securities Inc. purchased a new stake in Cinemark during the second quarter valued at about $208,000. Headlands Technologies LLC bought a new stake in Cinemark during the second quarter worth about $242,000. Finally, Inspire Advisors LLC purchased a new position in shares of Cinemark in the 1st quarter worth about $240,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CNK. JPMorgan Chase & Co. raised their price objective on Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Benchmark reaffirmed a “buy” rating and set a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. Wedbush boosted their price target on shares of Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Roth Mkm raised their price objective on Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.20.

Cinemark Stock Up 0.5 %

NYSE CNK opened at $28.75 on Monday. The business’s 50-day moving average is $25.21 and its 200 day moving average is $20.71. The stock has a market capitalization of $3.52 billion, a PE ratio of 19.83, a PEG ratio of 2.12 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark Holdings, Inc. has a 1 year low of $13.19 and a 1 year high of $29.07.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. During the same period last year, the company earned $0.80 EPS. The business’s quarterly revenue was down 22.1% compared to the same quarter last year. Sell-side analysts forecast that Cinemark Holdings, Inc. will post 1.33 earnings per share for the current year.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now 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 at the SEC website. 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.