Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 23.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,862 shares of the company’s stock after selling 5,221 shares during the quarter. ProShare Advisors LLC’s holdings in Cinemark were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CNK. Third Point LLC acquired a new position in Cinemark in the first quarter valued at $89,850,000. Steadfast Capital Management LP acquired a new position in Cinemark in the first quarter valued at $29,323,000. Jericho Capital Asset Management L.P. acquired a new position in Cinemark in the first quarter valued at $15,975,000. Nut Tree Capital Management LP acquired a new position in Cinemark in the first quarter valued at $13,250,000. Finally, Norges Bank acquired a new position in Cinemark in the fourth quarter valued at $7,333,000.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s 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 transaction, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CNK. Wedbush boosted their price target on Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price target on Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Roth Capital raised Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. Roth Mkm boosted their price target on Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group boosted their price target on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.00.

Cinemark Trading Down 0.5 %

NYSE:CNK opened at $27.33 on Thursday. 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 one year low of $13.19 and a one year high of $29.07. The business’s 50-day simple moving average is $26.86 and its 200 day simple moving average is $21.61. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth 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, topping 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 business had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. The company’s revenue was down 22.1% compared to the same quarter last year. As a group, sell-side analysts predict that Cinemark Holdings, Inc. will post 1.33 earnings per share for the current fiscal 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.