Creative Planning Buys 8,946 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Creative Planning raised its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 74.8% during the third quarter, HoldingsChannel.com reports. The fund owned 20,907 shares of the company’s stock after acquiring an additional 8,946 shares during the quarter. Creative Planning’s holdings in Cinemark were worth $582,000 at the end of the most recent reporting period.

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

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark 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 sale, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock.

Cinemark Stock Performance

Shares of CNK stock opened at $29.57 on Tuesday. The company has a market capitalization of $3.62 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.02 and a beta of 2.35. Cinemark Holdings, Inc. has a 52 week low of $13.19 and a 52 week high of $31.09. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.26 and a current ratio of 1.29. The company’s 50 day moving average price is $28.26 and its two-hundred day moving average price is $23.31.

Cinemark (NYSE:CNK) last released its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. On average, analysts expect that Cinemark Holdings, Inc. will post 1.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CNK has been the subject of a number of research analyst reports. Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group boosted their target price on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Saturday. Roth Mkm boosted their price objective on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price objective on Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

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.