Inspire Investing LLC Trims Position in Cinemark Holdings, Inc. (NYSE:CNK)

Inspire Investing LLC lessened its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 12.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,598 shares of the company’s stock after selling 2,017 shares during the quarter. Inspire Investing LLC’s holdings in Cinemark were worth $452,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in shares of Cinemark by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock worth $63,012,000 after purchasing an additional 148,076 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cinemark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after buying an additional 25,857 shares during the last quarter. Hennessy Advisors Inc. increased its holdings in shares of Cinemark by 13.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock worth $61,629,000 after buying an additional 241,600 shares during the last quarter. Maverick Capital Ltd. increased its holdings in shares of Cinemark by 1,356.4% during the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after buying an additional 1,413,557 shares during the last quarter. Finally, 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 buying an additional 29,275 shares during the last quarter.

Cinemark Stock Down 1.4 %

Shares of Cinemark stock opened at $29.03 on Friday. The business has a 50-day moving average of $31.65 and a 200-day moving average of $28.65. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The company has a market capitalization of $3.55 billion, a PE ratio of 18.73 and a beta of 2.40. Cinemark Holdings, Inc. has a 1-year low of $13.45 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.61. The company had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. As a group, equities analysts forecast that Cinemark Holdings, Inc. will post 2.06 EPS for the current fiscal year.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on CNK. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Macquarie increased their price target on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Thursday, October 31st. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

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.