Axa S.A. Sells 92,750 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Axa S.A. lessened its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 29.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,765 shares of the company’s stock after selling 92,750 shares during the period. Axa S.A. owned about 0.18% of Cinemark worth $4,773,000 at the end of the most recent quarter.

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

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CNK shares. Morgan Stanley increased their price target on Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a research report on Tuesday, August 27th. The Goldman Sachs Group boosted their price target on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Benchmark reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Cinemark Price Performance

Shares of NYSE:CNK opened at $27.84 on Monday. The company has a 50-day moving average price of $26.52 and a two-hundred day moving average price of $21.42. Cinemark Holdings, Inc. has a twelve month low of $13.19 and a twelve month high of $29.07. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The firm has a market capitalization of $3.41 billion, a PE ratio of 19.20, a P/E/G ratio of 2.07 and a beta of 2.36.

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 analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. During the same period in the previous year, the business earned $0.80 EPS. Cinemark’s revenue was down 22.1% compared to the same quarter last year. Equities analysts forecast that Cinemark Holdings, Inc. will post 1.33 EPS for the current year.

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.