1620 Investment Advisors Inc. Invests $79,000 in Cinemark Holdings, Inc. (NYSE:CNK)

1620 Investment Advisors Inc. purchased a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,656 shares of the company’s stock, valued at approximately $79,000.

Other hedge funds have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co boosted its holdings in Cinemark by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock valued at $2,209,000 after purchasing an additional 612 shares during the last quarter. NBC Securities Inc. grew its position in Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after acquiring an additional 700 shares during the period. Watershed Asset Management L.L.C. grew its position in Cinemark by 6.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after acquiring an additional 915 shares during the period. QRG Capital Management Inc. increased its stake in Cinemark by 5.9% during the second quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock worth $444,000 after acquiring an additional 1,148 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its position in Cinemark by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock valued at $1,664,000 after purchasing an additional 1,345 shares during the period.

Cinemark Price Performance

Cinemark stock opened at $27.48 on Friday. The company’s 50 day moving average is $22.82 and its two-hundred day moving average is $19.27. The firm has a market cap of $3.36 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.14 and a beta of 2.36. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $27.57.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. During the same period last year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was down 22.1% compared to the same quarter last year. On average, research analysts expect that Cinemark Holdings, Inc. will post 1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CNK shares. Roth Capital raised Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. B. Riley boosted their price target on shares of Cinemark from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Roth Mkm increased their price objective on shares of Cinemark from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Wedbush reissued an “outperform” rating and issued a $25.00 target price on shares of Cinemark in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.60.

Insider Activity

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

Cinemark 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.