Quest Partners LLC Invests $115,000 in Cinemark Holdings, Inc. (NYSE:CNK)

Quest Partners LLC purchased a new position in Cinemark Holdings, Inc. (NYSE:CNK) during the third quarter, HoldingsChannel.com reports. The fund purchased 4,131 shares of the company’s stock, valued at approximately $115,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Cinemark by 38.7% in the 2nd 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 in the last quarter. USA Financial Formulas bought a new position in Cinemark in the 3rd quarter valued at approximately $77,000. 1620 Investment Advisors Inc. bought a new position in Cinemark in the 2nd quarter valued at approximately $79,000. Finally, CWM LLC lifted its position in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after acquiring an additional 1,716 shares in the last quarter.

Cinemark Price Performance

Shares of CNK opened at $34.55 on Friday. The firm has a market cap of $4.23 billion, a PE ratio of 22.29, a P/E/G ratio of 1.71 and a beta of 2.35. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The firm has a fifty day simple moving average of $29.89 and a two-hundred day simple moving average of $25.19. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $34.99.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The business had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. On average, equities analysts anticipate that Cinemark Holdings, Inc. will post 2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CNK shares. JPMorgan Chase & Co. upped their price objective on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price objective on Cinemark from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley upped their price objective on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, B. Riley cut 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.10.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.30% of the stock is currently owned by company insiders.

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.