Tidal Investments LLC Sells 4,078 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Tidal Investments LLC lowered its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 7.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,290 shares of the company’s stock after selling 4,078 shares during the period. Tidal Investments LLC’s holdings in Cinemark were worth $1,456,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Maverick Capital Ltd. lifted its stake in shares of Cinemark by 1,356.4% in the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after acquiring an additional 1,413,557 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Cinemark by 1,532.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock worth $18,102,000 after purchasing an additional 610,398 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Cinemark in the 3rd quarter valued at $12,133,000. Dimensional Fund Advisors LP boosted its stake in shares of Cinemark by 5.4% in the 2nd 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 last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Cinemark by 18.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock worth $14,629,000 after buying an additional 103,875 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wedbush downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their target price on Cinemark from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price target on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Morgan Stanley raised their price objective on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. One analyst has rated the stock with a sell rating, four have issued 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 a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Price Performance

Shares of NYSE:CNK opened at $30.92 on Thursday. The company has a market capitalization of $3.78 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 1.66 and a beta of 2.38. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $36.28. The company’s 50-day moving average is $31.54 and its 200 day moving average is $26.69.

Cinemark (NYSE:CNK) last announced its quarterly earnings data 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. The company had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. On average, equities research analysts forecast that Cinemark Holdings, Inc. will post 2 earnings per share for the current year.

Insider Activity at Cinemark

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 shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the transaction, the insider now owns 179,729 shares of the company’s stock, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. 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 currently owned by corporate insiders.

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.