GHP Investment Advisors Inc. Reduces Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

GHP Investment Advisors Inc. reduced its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,847 shares of the company’s stock after selling 1,438 shares during the period. GHP Investment Advisors Inc.’s holdings in Cinemark were worth $429,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CNK. The Manufacturers Life Insurance Company increased its stake in shares of Cinemark by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 62,287 shares of the company’s stock worth $1,347,000 after purchasing an additional 2,603 shares in the last quarter. GAMMA Investing LLC grew its holdings in Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after purchasing an additional 1,040 shares during the period. CWM LLC increased its position in Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after buying an additional 1,716 shares in the last quarter. USA Financial Formulas bought a new position in shares of Cinemark in the third quarter worth about $77,000. Finally, Ritholtz Wealth Management bought a new position in shares of Cinemark in the third quarter worth about $489,000.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark 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 sale, the insider now owns 179,729 shares of the company’s stock, valued at $5,873,543.72. The trade was a 12.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CNK shares. Morgan Stanley boosted 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. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of Cinemark in a research report on Friday, January 10th. Macquarie raised their price objective on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company dropped their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Stock Up 0.4 %

CNK opened at $31.09 on Friday. Cinemark Holdings, Inc. has a 52 week low of $14.50 and a 52 week high of $36.28. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The firm has a 50-day simple moving average of $30.98 and a two-hundred day simple moving average of $29.15. The company has a market capitalization of $3.80 billion, a PE ratio of 20.06 and a beta of 2.38.

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.