NWI Management LP Cuts Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

NWI Management LP decreased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 34.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,000 shares of the company’s stock after selling 84,000 shares during the quarter. NWI Management LP owned 0.13% of Cinemark worth $2,893,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cinemark by 1.6% in the third quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock worth $254,046,000 after acquiring an additional 214,102 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Cinemark by 30.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock valued at $4,059,000 after purchasing an additional 67,851 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Cinemark during the 4th quarter valued at $3,000,000. New York State Teachers Retirement System raised its position in shares of Cinemark by 6.9% during the 4th quarter. New York State Teachers Retirement System now owns 109,351 shares of the company’s stock valued at $1,541,000 after purchasing an additional 7,013 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cinemark by 3.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,483 shares of the company’s stock valued at $697,000 after purchasing an additional 1,786 shares during the period.

Analyst Ratings Changes

Several brokerages have recently commented on CNK. Benchmark restated a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research report on Monday, July 1st. B. Riley upgraded shares of Cinemark from a “neutral” rating to a “buy” rating and lifted their price target for the company from $16.00 to $27.00 in a report on Monday, July 8th. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wedbush reiterated an “outperform” rating and issued a $25.00 price target on shares of Cinemark in a report on Thursday, June 27th. Finally, StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $22.90.

Cinemark Stock Up 3.2 %

Shares of NYSE CNK traded up $0.68 during trading hours on Friday, hitting $21.99. 2,515,040 shares of the stock were exchanged, compared to its average volume of 2,656,445. The company has a market cap of $2.69 billion, a PE ratio of 15.17, a PEG ratio of 2.02 and a beta of 2.36. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month high of $22.25. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The firm has a fifty day moving average price of $19.61 and a 200-day moving average price of $17.77.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. The firm had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. On average, sell-side analysts expect that Cinemark Holdings, Inc. will post 1.09 EPS for the current year.

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.