Jacobs Levy Equity Management Inc. purchased a new position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 90,210 shares of the company's stock, valued at approximately $2,511,000. Jacobs Levy Equity Management Inc. owned approximately 0.07% of Cinemark at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of CNK. GAMMA Investing LLC increased its stake in 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. increased its stake in 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 purchased a new position in Cinemark in the 3rd quarter worth about $77,000. 1620 Investment Advisors Inc. purchased a new position in Cinemark in the 2nd quarter worth about $79,000. Finally, CWM LLC increased its stake in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after purchasing an additional 1,716 shares in the last quarter.
In related news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction that occurred 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 approximately $5,873,543.72. The trade was a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.30% of the company's stock.
CNK opened at $35.18 on Friday. The business has a 50 day moving average price of $30.69 and a 200 day moving average price of $25.85. Cinemark Holdings, Inc. has a twelve month low of $13.19 and a twelve month high of $36.28. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The firm has a market cap of $4.30 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.77 and a beta of 2.38.
Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. During the same period in the previous year, the company earned $0.61 EPS. The company's revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts forecast that Cinemark Holdings, Inc. will post 2 EPS for the current year.
Several equities analysts have weighed in on CNK shares. Morgan Stanley lifted their target price on Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Benchmark lifted their target price on Cinemark from $32.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their target price on Cinemark from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. StockNews.com raised Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, November 10th. Finally, JPMorgan Chase & Co. lifted their target price on Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $32.80.
View Our Latest Report on Cinemark
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.
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