Point72 Asia Singapore Pte. Ltd. Acquires 877 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Point72 Asia Singapore Pte. Ltd. lifted its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 38.7% during the second quarter, Holdings Channel reports. The institutional investor owned 3,145 shares of the company’s stock after acquiring an additional 877 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Cinemark were worth $68,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in Cinemark in the second quarter worth about $79,000. Fifth Third Bancorp increased its position in Cinemark by 414.4% during the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock valued at $97,000 after buying an additional 3,609 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Cinemark during the second quarter valued at $144,000. Virtu Financial LLC bought a new stake in Cinemark in the fourth quarter worth $192,000. Finally, First Dallas Securities Inc. purchased a new stake in shares of Cinemark in the second quarter worth $208,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Roth Mkm upped their price target on shares of Cinemark from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a report on Tuesday, August 27th. Wedbush boosted their price objective on shares of Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Barrington Research cut Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Finally, Macquarie lifted their target price on Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Two 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.00.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on 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 approximately $5,566,581.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

Cinemark Stock Performance

Shares of CNK opened at $27.84 on Monday. Cinemark Holdings, Inc. has a one year low of $13.19 and a one year high of $29.07. The business has a fifty day moving average of $26.52 and a 200 day moving average of $21.42. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The firm has a market capitalization of $3.41 billion, a P/E ratio of 19.20, a PEG ratio of 2.07 and a beta of 2.36.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.33 EPS for the current year.

Cinemark 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.