Impala Asset Management LLC Decreases Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Impala Asset Management LLC reduced its position in Cinemark Holdings, Inc. (NYSE:CNK) by 90.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the company’s stock after selling 95,000 shares during the period. Cinemark accounts for about 0.2% of Impala Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Impala Asset Management LLC’s holdings in Cinemark were worth $216,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. increased its stake in Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Cinemark during the second quarter worth approximately $79,000. Fifth Third Bancorp increased its stake in Cinemark by 414.4% during the second quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock worth $97,000 after acquiring an additional 3,609 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Cinemark during the second quarter worth approximately $144,000. Finally, First Dallas Securities Inc. bought a new stake in Cinemark during the second quarter worth approximately $208,000.

Insider Buying and Selling

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 value of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CNK shares. Wedbush raised their price target on Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Roth Capital raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group lifted 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. Finally, Morgan Stanley increased their price target on Cinemark from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. 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 given 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.

Cinemark Trading Up 1.5 %

CNK opened at $27.84 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.07 and a beta of 2.36. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month high of $29.07. The stock has a fifty day moving average price of $26.52 and a 200-day moving average price of $21.40.

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. The firm had revenue of $734.20 million during 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%. The firm’s quarterly revenue was down 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. As a group, equities research analysts anticipate that Cinemark Holdings, Inc. will post 1.33 earnings per share 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.