Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its position in Cinemark Holdings, Inc. (NYSE:CNK) by 56.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,630 shares of the company’s stock after selling 8,520 shares during the period. Everence Capital Management Inc.’s holdings in Cinemark were worth $205,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CNK. Aigen Investment Management LP grew its holdings in Cinemark by 198.9% in the third quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock valued at $1,375,000 after purchasing an additional 32,870 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Cinemark by 88.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock valued at $1,733,000 after acquiring an additional 29,295 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Cinemark during the 3rd quarter valued at about $1,960,000. Entropy Technologies LP acquired a new position in Cinemark during the third quarter worth about $893,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Cinemark by 18.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock valued at $14,629,000 after purchasing an additional 103,875 shares in the last quarter.

Cinemark Stock Performance

Shares of CNK stock opened at $30.40 on Thursday. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 1.66 and a beta of 2.40. The company has a 50 day moving average price of $32.10 and a 200 day moving average price of $28.02. Cinemark Holdings, Inc. has a one year low of $13.19 and a one year high of $36.28. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share 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 analyst estimates of $894.90 million. During the same period last year, the company posted $0.61 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that Cinemark Holdings, Inc. will post 2 EPS for the current year.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 179,729 shares of the company’s stock, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNK shares. Benchmark lifted their price objective on Cinemark from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Macquarie increased their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. The Goldman Sachs Group boosted their target price on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research note on Thursday, September 19th. Finally, Barrington Research raised 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 note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.80.

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.