17,582 Shares in Cinemark Holdings, Inc. (NYSE:CNK) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new stake in Cinemark Holdings, Inc. (NYSE:CNK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,582 shares of the company’s stock, valued at approximately $489,000.

Several other large investors also recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after purchasing an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Cinemark in the third quarter valued at approximately $77,000. 1620 Investment Advisors Inc. bought a new stake in shares of Cinemark during the second quarter worth $79,000. Finally, CWM LLC raised its holdings in shares of Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after acquiring an additional 1,716 shares during the period.

Wall Street Analysts Forecast Growth

CNK has been the subject of a number of research analyst reports. Roth Mkm upped their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group increased their price objective on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. Benchmark restated a “buy” rating and issued a $23.00 target price on shares of Cinemark in a research note on Monday, July 1st. Wells Fargo & Company raised their price target on shares of Cinemark from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and an average price target of $28.10.

Cinemark Price Performance

Shares of NYSE:CNK opened at $28.72 on Wednesday. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark Holdings, Inc. has a one year low of $13.19 and a one year high of $29.87. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.94 and a beta of 2.36. The firm has a 50 day simple moving average of $27.64 and a 200 day simple moving average of $22.26.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $691.74 million. During the same period last year, the firm posted $0.80 earnings per share. The business’s revenue for the quarter was down 22.1% on a year-over-year basis. Research analysts predict that Cinemark Holdings, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the 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 $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

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.