R Squared Ltd Invests $63,000 in Cinemark Holdings, Inc. (NYSE:CNK)

R Squared Ltd acquired a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,020 shares of the company’s stock, valued at approximately $63,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in Cinemark by 4.4% during the second 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 during the last quarter. Algert Global LLC purchased a new stake in Cinemark during the second quarter worth approximately $238,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Cinemark by 38.7% during the second 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 during the last quarter. GAMMA Investing LLC lifted its stake in Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 shares during the last quarter. Finally, CWM LLC lifted its stake in Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after purchasing an additional 1,716 shares during the last quarter.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the transaction, the insider now owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CNK shares. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday, October 31st. Macquarie boosted their target price on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. 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. JPMorgan Chase & Co. boosted their price objective on Cinemark from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Roth Mkm boosted their price objective on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Price Performance

Cinemark stock opened at $28.62 on Friday. Cinemark Holdings, Inc. has a 12 month low of $13.45 and a 12 month high of $36.28. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The business has a 50 day simple moving average of $31.27 and a 200-day simple moving average of $28.90. The stock has a market capitalization of $3.50 billion, a PE ratio of 18.46 and a beta of 2.40.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS 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 business had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Cinemark Holdings, Inc. will post 2.06 earnings per share for the current year.

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.