Wakefield Asset Management LLLP Buys Shares of 49,945 Cinemark Holdings, Inc. (NYSE:CNK)

Wakefield Asset Management LLLP purchased a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 49,945 shares of the company’s stock, valued at approximately $1,080,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Third Point LLC acquired a new stake in Cinemark in the 1st quarter worth approximately $89,850,000. Steadfast Capital Management LP acquired a new stake in shares of Cinemark during the first quarter worth $29,323,000. Hennessy Advisors Inc. acquired a new stake in shares of Cinemark during the fourth quarter worth $16,001,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Cinemark during the first quarter valued at $15,975,000. Finally, Nut Tree Capital Management LP acquired a new position in shares of Cinemark in the 1st quarter valued at $13,250,000.

Cinemark Stock Performance

Shares of CNK stock opened at $28.09 on Friday. The business’s 50 day moving average is $24.37 and its two-hundred day moving average is $20.15. The company has a market capitalization of $3.44 billion, a P/E ratio of 19.38, a P/E/G ratio of 2.04 and a beta of 2.36. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. Cinemark Holdings, Inc. has a 12-month low of $13.19 and a 12-month high of $28.70.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.25. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The company’s revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. Analysts expect that Cinemark Holdings, Inc. will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s 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 transaction, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Barrington Research cut shares of Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. Macquarie raised their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Roth Capital raised Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and an average target price of $25.20.

About 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.