Louisiana State Employees Retirement System Trims Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Louisiana State Employees Retirement System reduced its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,600 shares of the company’s stock after selling 2,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Cinemark were worth $1,437,000 at the end of the most recent quarter.

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

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CNK. Macquarie lifted their price target on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Wedbush upped their price target on shares of Cinemark from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wells Fargo & Company lifted their price target on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. Finally, B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Cinemark Trading Down 2.3 %

Shares of CNK opened at $29.78 on Friday. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month high of $31.09. The stock’s 50-day moving average is $28.15 and its two-hundred day moving average is $23.03. 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 stock has a market cap of $3.64 billion, a PE ratio of 30.80, a P/E/G ratio of 1.94 and a beta of 2.36.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $691.74 million. During the same quarter in the prior year, the business earned $0.80 EPS. Cinemark’s quarterly revenue was down 22.1% compared to the same quarter last year. Equities analysts forecast that Cinemark Holdings, Inc. will post 1.41 earnings per share for the current fiscal year.

Cinemark Company 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.