Crossmark Global Holdings Inc. Invests $209,000 in Cinemark Holdings, Inc. (NYSE:CNK)

Crossmark Global Holdings Inc. acquired a new position in Cinemark Holdings, Inc. (NYSE:CNK) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,516 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sei Investments Co. grew its stake in shares of Cinemark by 38.1% during the first quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock worth $2,069,000 after acquiring an additional 31,739 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in Cinemark during the 1st quarter worth approximately $2,274,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Cinemark by 18.1% during the 2nd 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. US Bancorp DE raised its holdings in shares of Cinemark by 68.8% in the first quarter. US Bancorp DE now owns 34,846 shares of the company’s stock worth $626,000 after buying an additional 14,200 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in shares of Cinemark during the second quarter worth $2,253,000.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Cinemark Stock Performance

NYSE CNK opened at $32.00 on Tuesday. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.60 and a beta of 2.35. The stock has a 50-day moving average of $28.95 and a 200 day moving average of $24.19. 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 twelve month low of $13.19 and a twelve month high of $33.11.

Cinemark (NYSE:CNK) last announced 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. The business had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. Sell-side analysts anticipate that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CNK. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Morgan Stanley lifted their target price on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Roth Mkm increased their price target on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Macquarie increased their price objective on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

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.