Vanguard Group Inc. Sells 637,481 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Vanguard Group Inc. cut its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,207,009 shares of the company’s stock after selling 637,481 shares during the period. Vanguard Group Inc. owned about 10.86% of Cinemark worth $186,087,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Assenagon Asset Management S.A. increased its stake in Cinemark by 30.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock valued at $4,059,000 after buying an additional 67,851 shares during the last quarter. Park West Asset Management LLC increased its position in shares of Cinemark by 34.3% during the 4th quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after purchasing an additional 300,000 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Cinemark by 17.0% in the 4th quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock valued at $9,819,000 after buying an additional 101,272 shares during the last quarter. Peconic Partners LLC boosted its holdings in shares of Cinemark by 66.7% in the 4th quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock valued at $7,045,000 after buying an additional 200,000 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Cinemark during the fourth quarter worth $748,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNK. Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research report on Monday. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. Barrington Research reiterated an “outperform” rating and set a $24.00 target price on shares of Cinemark in a research note on Monday, June 17th. B. Riley increased their price target on Cinemark from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.33.

Cinemark Price Performance

NYSE:CNK opened at $21.44 on Wednesday. Cinemark Holdings, Inc. has a 52 week low of $13.19 and a 52 week high of $21.87. The firm’s 50-day simple moving average is $18.21 and its 200 day simple moving average is $16.83. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 2.02 and a beta of 2.36. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. The business had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. Cinemark’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, sell-side analysts predict that Cinemark Holdings, Inc. will post 1.07 earnings per share 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.