Hodges Capital Management Inc. Sells 73,129 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Hodges Capital Management Inc. lowered its position in Cinemark Holdings, Inc. (NYSE:CNK) by 11.4% during the 2nd quarter, Holdings Channel reports. The firm owned 567,276 shares of the company’s stock after selling 73,129 shares during the quarter. Hodges Capital Management Inc.’s holdings in Cinemark were worth $12,265,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Cinemark during the 4th quarter worth about $3,000,000. New York State Common Retirement Fund boosted its position in Cinemark by 8.1% during the 4th quarter. New York State Common Retirement Fund now owns 72,372 shares of the company’s stock valued at $1,020,000 after acquiring an additional 5,452 shares in the last quarter. Versor Investments LP raised its position in shares of Cinemark by 252.4% in the 4th quarter. Versor Investments LP now owns 54,152 shares of the company’s stock worth $763,000 after acquiring an additional 38,786 shares in the last quarter. NBC Securities Inc. raised its position in shares of Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after acquiring an additional 700 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of Cinemark during the 4th quarter worth $254,000.

Analysts Set New Price Targets

A number of equities analysts have commented on CNK shares. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a report on Tuesday, August 27th. Benchmark reiterated a “buy” rating and issued a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. Roth Mkm boosted their target price on shares of Cinemark from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Macquarie boosted their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Finally, Morgan Stanley boosted their target price on shares of Cinemark from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.20.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by insiders.

Cinemark Stock Down 0.4 %

Shares of CNK stock traded down $0.12 during trading hours on Wednesday, reaching $27.13. 160,468 shares of the company’s stock were exchanged, compared to its average volume of 2,972,853. Cinemark Holdings, Inc. has a 1 year low of $13.19 and a 1 year high of $28.43. The stock has a market cap of $3.32 billion, a PE ratio of 18.81, a PEG ratio of 2.04 and a beta of 2.36. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The stock’s fifty day moving average price is $24.09 and its two-hundred day moving average price is $20.04.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The company’s revenue was down 22.1% on a year-over-year basis. Research analysts predict that Cinemark Holdings, Inc. will post 1.35 EPS for the current year.

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.