Point72 DIFC Ltd Acquires Shares of 6,653 Cinemark Holdings, Inc. (NYSE:CNK)

Point72 DIFC Ltd bought a new position in Cinemark Holdings, Inc. (NYSE:CNK) in the 2nd quarter, Holdings Channel.com reports. The firm bought 6,653 shares of the company’s stock, valued at approximately $144,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CNK. Third Point LLC acquired a new stake in Cinemark in the first quarter valued at $89,850,000. Dimensional Fund Advisors LP lifted its stake in shares of Cinemark by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after purchasing an additional 148,076 shares during the period. Victory Capital Management Inc. boosted its holdings in Cinemark by 1.4% during the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after buying an additional 35,993 shares in the last quarter. Steadfast Capital Management LP acquired a new position in Cinemark during the first quarter worth about $29,323,000. Finally, Hennessy Advisors Inc. increased its holdings in Cinemark by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after buying an additional 234,400 shares in the last quarter.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

Cinemark Trading Down 1.4 %

NYSE CNK opened at $27.46 on Wednesday. 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 company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month high of $29.07. The company’s fifty day moving average price is $26.74 and its two-hundred day moving average price is $21.57.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping 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 firm had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The firm’s revenue was down 22.1% on a year-over-year basis. As a group, research analysts predict that Cinemark Holdings, Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wedbush lifted their price objective on Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group upped their price target on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. increased their target price on Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, Roth Capital upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

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.