GAMMA Investing LLC Buys 1,040 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

GAMMA Investing LLC raised its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 106.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,020 shares of the company’s stock after purchasing an additional 1,040 shares during the quarter. GAMMA Investing LLC’s holdings in Cinemark were worth $56,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CNK. Virtu Financial LLC purchased a new stake in Cinemark in the fourth quarter worth about $192,000. Hennessy Advisors Inc. lifted its stake in shares of Cinemark by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock valued at $23,286,000 after purchasing an additional 160,200 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Cinemark by 7.7% during the first quarter. Commonwealth Equity Services LLC now owns 369,205 shares of the company’s stock valued at $6,635,000 after purchasing an additional 26,335 shares in the last quarter. Easterly Investment Partners LLC grew its stake in Cinemark by 1.1% in the first quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock worth $8,839,000 after purchasing an additional 5,236 shares during the period. Finally, Texas Permanent School Fund Corp raised its holdings in Cinemark by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock worth $1,664,000 after purchasing an additional 1,345 shares in the last quarter.

Cinemark Price Performance

NYSE CNK opened at $28.67 on Thursday. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.94 and a beta of 2.36. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $29.87. 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 business’s fifty day moving average price is $27.69 and its 200-day moving average price is $22.31.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (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 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. On average, equities analysts predict that Cinemark Holdings, Inc. will post 1.41 earnings per share for the current year.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a research note on Tuesday, August 27th. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday. Roth Mkm raised their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Finally, StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.10.

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.