Maverick Capital Ltd. Takes Position in Cinemark Holdings, Inc. (NYSE:CNK)

Maverick Capital Ltd. bought a new position in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 104,214 shares of the company’s stock, valued at approximately $2,253,000. Maverick Capital Ltd. owned approximately 0.09% of Cinemark at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Cinemark by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock valued at $36,195,000 after buying an additional 213,593 shares in the last quarter. Norges Bank bought a new position in shares of Cinemark during the fourth quarter worth $7,333,000. Hsbc Holdings PLC grew its stake in Cinemark by 35.2% during the fourth quarter. Hsbc Holdings PLC now owns 294,846 shares of the company’s stock valued at $4,117,000 after acquiring an additional 76,769 shares in the last quarter. Kodai Capital Management LP bought a new stake in Cinemark in the 4th quarter valued at $3,994,000. Finally, Park West Asset Management LLC boosted its holdings 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 valued at $16,556,000 after purchasing an additional 300,000 shares during the last quarter.

Wall Street Analyst Weigh In

CNK has been the topic of several research reports. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a report on Tuesday, August 27th. Barrington Research downgraded Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Morgan Stanley raised their target price on shares of Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Roth Capital raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the transaction, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.

Cinemark Trading Up 2.1 %

Shares of CNK opened at $27.44 on Friday. The company’s fifty day simple moving average is $26.39 and its 200-day simple moving average is $21.33. The company has a market cap of $3.36 billion, a P/E ratio of 18.92, a P/E/G ratio of 2.07 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. Cinemark Holdings, Inc. has a twelve month low of $13.19 and a twelve month high of $29.07.

Cinemark (NYSE:CNK) last posted its quarterly earnings data 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 net margin of 5.05% and a return on equity of 41.87%. The company had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. During the same period in the prior year, the company posted $0.80 EPS. The firm’s revenue for the quarter was down 22.1% on a year-over-year basis. As a group, analysts expect that Cinemark Holdings, Inc. will post 1.33 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.