Public Sector Pension Investment Board Increases Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Public Sector Pension Investment Board boosted its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 8.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 234,764 shares of the company’s stock after acquiring an additional 17,327 shares during the quarter. Public Sector Pension Investment Board owned about 0.19% of Cinemark worth $5,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new position in shares of Cinemark in the 2nd quarter valued at about $79,000. Fifth Third Bancorp lifted its stake in shares of Cinemark by 414.4% in the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock valued at $97,000 after purchasing an additional 3,609 shares during the period. First Dallas Securities Inc. purchased a new stake in Cinemark during the second quarter worth $208,000. Headlands Technologies LLC acquired a new stake in Cinemark during the second quarter valued at $242,000. Finally, Inspire Advisors LLC purchased a new position in Cinemark in the first quarter valued at $240,000.

Cinemark Stock Down 3.1 %

Cinemark stock opened at $26.86 on Thursday. The company has a market capitalization of $3.29 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $29.07. The firm has a 50 day moving average price of $26.27 and a 200 day moving average price of $21.29.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $691.74 million. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s quarterly revenue was down 22.1% compared to the same quarter last year. Research analysts expect that Cinemark Holdings, Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

CNK has been the topic of a number of analyst reports. The Goldman Sachs Group raised their target price on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Roth Mkm lifted their price target on shares of Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Macquarie upped their price objective on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $23.00 price objective on shares of Cinemark in a report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned 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, Cinemark presently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction that occurred 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 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 SEC, which is available through this link. Insiders own 2.30% of the company’s stock.

Cinemark Company 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.