Entropy Technologies LP Invests $893,000 in Cinemark Holdings, Inc. (NYSE:CNK)

Entropy Technologies LP purchased a new position in Cinemark Holdings, Inc. (NYSE:CNK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,065 shares of the company’s stock, valued at approximately $893,000.

A number of other hedge funds have also recently made changes to their positions in CNK. GAMMA Investing LLC grew its stake in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after acquiring an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares during the period. USA Financial Formulas bought a new position in Cinemark in the third quarter worth approximately $77,000. 1620 Investment Advisors Inc. purchased a new position in Cinemark during the 2nd quarter worth $79,000. Finally, CWM LLC raised its position in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares in the last quarter.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction on Monday, August 19th. The shares were 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 directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by company insiders.

Cinemark Trading Down 2.9 %

Shares of NYSE:CNK opened at $31.79 on Thursday. The business’s 50-day moving average is $28.72 and its 200 day moving average is $23.89. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a 1 year low of $13.19 and a 1 year high of $33.11. The firm has a market capitalization of $3.89 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.64 and a beta of 2.35.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.61. The firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 earnings per share. On average, research analysts predict that Cinemark Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Macquarie increased their price target on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Thursday, October 31st. Wells Fargo & Company upped their price target on shares of Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a report on Tuesday, August 27th. Finally, Morgan Stanley boosted their price objective on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and a consensus target price of $30.80.

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.