Inspire Investing LLC Trims Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Inspire Investing LLC lowered its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 18.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,821 shares of the company’s stock after selling 4,391 shares during the period. Inspire Investing LLC’s holdings in Cinemark were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CNK. Third Point LLC bought a new stake in Cinemark during the 1st quarter valued at $89,850,000. Steadfast Capital Management LP bought a new stake in shares of Cinemark during the 1st quarter valued at $29,323,000. Hennessy Advisors Inc. purchased a new stake in Cinemark during the 4th quarter worth about $16,001,000. Jericho Capital Asset Management L.P. bought a new position in Cinemark in the 1st quarter worth about $15,975,000. Finally, Nut Tree Capital Management LP purchased a new position in Cinemark during the 1st quarter valued at about $13,250,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CNK. StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Wedbush raised their price target on shares of Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Morgan Stanley upped their price target on shares of Cinemark from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Barrington Research lowered Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. Finally, Roth Mkm upped their target price on Cinemark from $28.00 to $30.00 and gave the stock 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 issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Insider Transactions at Cinemark

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

Cinemark Trading Down 0.1 %

NYSE CNK opened at $28.31 on Friday. The stock’s 50-day simple moving average is $25.89 and its two-hundred day simple moving average is $21.05. Cinemark Holdings, Inc. has a twelve month low of $13.19 and a twelve month high of $29.07. 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 company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.12 and a beta of 2.36.

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