Tidal Investments LLC Sells 4,078 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Tidal Investments LLC decreased its position in Cinemark Holdings, Inc. (NYSE:CNK) by 7.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 52,290 shares of the company’s stock after selling 4,078 shares during the quarter. Tidal Investments LLC’s holdings in Cinemark were worth $1,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System increased its holdings in shares of Cinemark by 1.8% in the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock worth $662,000 after buying an additional 556 shares during the period. Natixis Advisors LLC lifted its position in Cinemark by 2.9% in the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock valued at $575,000 after purchasing an additional 583 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Cinemark by 38.7% during 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. GAMMA Investing LLC grew its holdings in shares of Cinemark by 106.1% in 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, Louisiana State Employees Retirement System increased its stake in shares of Cinemark by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the company’s stock worth $1,161,000 after buying an additional 1,200 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CNK shares. Morgan Stanley raised their price target on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Thursday, October 31st. Roth Mkm boosted their target price on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target on Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. 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 research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Cinemark Price Performance

Shares of NYSE CNK opened at $30.92 on Thursday. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The company has a 50 day simple moving average of $31.54 and a two-hundred day simple moving average of $26.69. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $36.28. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.66 and a beta of 2.38.

Cinemark (NYSE:CNK) last released its 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 for the quarter, compared to the consensus estimate of $894.90 million. During the same period in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts expect that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal 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.