Tectonic Advisors LLC Cuts Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Tectonic Advisors LLC reduced its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 43.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,152 shares of the company’s stock after selling 19,242 shares during the quarter. Tectonic Advisors LLC’s holdings in Cinemark were worth $700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Arizona State Retirement System grew its holdings in Cinemark by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock valued at $662,000 after buying an additional 556 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Cinemark by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock valued at $2,209,000 after purchasing an additional 612 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of 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 purchasing an additional 877 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Cinemark by 106.1% in the third 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. Finally, QRG Capital Management Inc. grew its holdings in shares of Cinemark by 5.9% in the second quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock valued at $444,000 after purchasing an additional 1,148 shares in the last quarter.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Cinemark Stock Performance

CNK stock opened at $28.69 on Friday. 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 has a 50-day moving average price of $28.00 and a 200 day moving average price of $22.76. The company has a market capitalization of $3.51 billion, a P/E ratio of 19.79, 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.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share 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 the consensus estimate 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 previous year, the company posted $0.80 earnings per share. As a group, equities research analysts forecast that Cinemark Holdings, Inc. will post 1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CNK shares. Benchmark reissued a “buy” rating and issued a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. Barrington Research lowered shares of Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. Roth Mkm raised their target price on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Macquarie raised their target price on shares of Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Finally, B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research note on Tuesday, August 27th. Two 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and a consensus target price of $28.10.

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.