Wellington Management Group LLP Sells 1,716,256 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Wellington Management Group LLP lessened its position in Cinemark Holdings, Inc. (NYSE:CNK) by 12.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,544,212 shares of the company’s stock after selling 1,716,256 shares during the period. Wellington Management Group LLP owned 0.09% of Cinemark worth $321,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Tabor Asset Management LP raised its holdings in Cinemark by 25.7% in the 3rd quarter. Tabor Asset Management LP now owns 333,906 shares of the company’s stock worth $9,296,000 after acquiring an additional 68,237 shares during the period. Sora Investors LLC bought a new position in shares of Cinemark during the 3rd quarter worth about $1,114,000. Quarry LP increased its holdings in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares during the period. Royal London Asset Management Ltd. increased its holdings in shares of Cinemark by 2.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company’s stock worth $35,207,000 after purchasing an additional 29,275 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Cinemark during the 3rd quarter worth about $2,511,000.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the transaction, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNK. JPMorgan Chase & Co. boosted their price objective on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price objective on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Benchmark boosted their price objective on shares of Cinemark from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, B. Riley downgraded 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Price Performance

NYSE:CNK opened at $35.18 on Friday. The firm has a market cap of $4.30 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.77 and a beta of 2.38. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month 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 company’s 50-day moving average price is $30.69 and its two-hundred day moving average price is $25.85.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million for the quarter, compared to analyst estimates 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 period in the previous year, the business earned $0.61 earnings per share. On average, equities analysts anticipate that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal 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.