Charles Schwab Investment Management Inc. Cuts Position in Cinemark Holdings, Inc. (NYSE:CNK)

Charles Schwab Investment Management Inc. reduced its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,466,488 shares of the company’s stock after selling 44,554 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.20% of Cinemark worth $40,827,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CNK. GAMMA Investing LLC grew its holdings in shares of Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after acquiring an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares in the last quarter. USA Financial Formulas acquired a new stake in Cinemark in the third quarter valued at $77,000. 1620 Investment Advisors Inc. purchased a new position in shares of Cinemark in the second quarter valued at $79,000. Finally, CWM LLC raised its stake in shares of Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after buying an additional 1,716 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group upped their target price on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research note on Thursday, September 19th. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company upped their price objective on Cinemark from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and an average price target of $31.10.

Cinemark Stock Performance

Cinemark stock opened at $36.01 on Tuesday. The stock has a fifty day moving average price of $30.06 and a 200 day moving average price of $25.41. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. Cinemark Holdings, Inc. has a 52 week low of $13.19 and a 52 week high of $36.28. The firm has a market capitalization of $4.41 billion, a P/E ratio of 23.23, a PEG ratio of 1.73 and a beta of 2.35.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. During the same quarter in the prior year, the company posted $0.61 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Cinemark Holdings, Inc. will post 2 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the business’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 owns 179,729 shares in the company, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

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.