Friedenthal Financial Acquires Shares of 27,920 Cinemark Holdings, Inc. (NYSE:CNK)

Friedenthal Financial acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 27,920 shares of the company’s stock, valued at approximately $777,000.

Other institutional investors have also added to or reduced their stakes in the company. Third Point LLC bought a new position in Cinemark during the 1st quarter worth $89,850,000. Dimensional Fund Advisors LP grew its position in 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 period. 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 worth $55,149,000 after purchasing an additional 35,993 shares during the last quarter. Steadfast Capital Management LP bought a new position in shares of Cinemark during the first quarter valued at about $29,323,000. Finally, Hennessy Advisors Inc. boosted its position in Cinemark by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after purchasing an additional 234,400 shares during the last quarter.

Cinemark Price Performance

NYSE CNK opened at $28.77 on Friday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.94 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $29.87. The business’s fifty day moving average price is $27.81 and its 200-day moving average price is $22.43.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. During the same quarter last year, the company posted $0.80 EPS. The company’s revenue was down 22.1% compared to the same quarter last year. On average, equities analysts predict that Cinemark Holdings, Inc. will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNK. 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 research note on Thursday, September 19th. 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. Morgan Stanley boosted their price objective on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Benchmark reiterated a “buy” rating and issued a $23.00 price target on shares of Cinemark in a research note on Monday, July 1st. Finally, Barrington Research downgraded Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and an average target price of $28.10.

Insider Buying and Selling at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the 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 completion of the sale, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

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.