Thrivent Financial for Lutherans Trims Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Thrivent Financial for Lutherans lowered its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 5.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,857 shares of the company’s stock after selling 4,718 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Cinemark worth $2,335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Arizona State Retirement System raised its position in shares of Cinemark by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock worth $662,000 after purchasing an additional 556 shares during the period. Natixis Advisors LLC raised its position in shares of Cinemark by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after purchasing an additional 583 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Cinemark by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock worth $2,209,000 after purchasing an additional 612 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Cinemark by 38.7% during the 2nd 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 during the period. Finally, GAMMA Investing LLC raised its position in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 shares during the period.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company raised their target price on Cinemark from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their target price on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research report on Tuesday, August 27th. Finally, Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.10.

Cinemark Stock Performance

CNK stock opened at $34.18 on Thursday. The business’s fifty day moving average is $29.65 and its 200-day moving average is $25.01. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The company has a market cap of $4.18 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.67 and a beta of 2.35. Cinemark Holdings, Inc. has a twelve month low of $13.19 and a twelve month high of $34.43.

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

Insiders Place Their Bets

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred 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 directly owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.30% of the company’s stock.

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.