Dimensional Fund Advisors LP Buys 148,076 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Dimensional Fund Advisors LP grew its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 5.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,914,708 shares of the company’s stock after acquiring an additional 148,076 shares during the period. Dimensional Fund Advisors LP’s holdings in Cinemark were worth $63,012,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CNK. Third Point LLC purchased a new position in Cinemark in the first quarter worth about $89,850,000. Steadfast Capital Management LP purchased a new position in Cinemark in the 1st quarter worth approximately $29,323,000. Hennessy Advisors Inc. bought a new position in Cinemark in the 4th quarter valued at approximately $16,001,000. Jericho Capital Asset Management L.P. bought a new position in Cinemark in the 1st quarter valued at approximately $15,975,000. Finally, Nut Tree Capital Management LP purchased a new stake in Cinemark during the 1st quarter valued at $13,250,000.

Cinemark Stock Up 1.4 %

CNK opened at $27.82 on Friday. The firm’s 50 day simple moving average is $26.39 and its two-hundred day simple moving average is $21.33. The company has a market capitalization of $3.40 billion, a PE ratio of 19.20, a PEG ratio of 2.07 and a beta of 2.36. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $29.07. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. Cinemark’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. As a group, equities analysts forecast that Cinemark Holdings, Inc. will post 1.33 EPS for the current year.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s 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 completion of the transaction, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CNK shares. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a report on Tuesday, August 27th. Macquarie upped their target price on shares of Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Benchmark restated a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research report on Monday, July 1st. Finally, The Goldman Sachs Group raised their target price on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and an average target price of $26.00.

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.