Assenagon Asset Management S.A. Reduces Position in Cinemark Holdings, Inc. (NYSE:CNK)

Assenagon Asset Management S.A. trimmed its position in Cinemark Holdings, Inc. (NYSE:CNK) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 396,679 shares of the company’s stock after selling 39,119 shares during the quarter. Assenagon Asset Management S.A. owned 0.32% of Cinemark worth $12,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNK. Quarry LP lifted its holdings in Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after buying an additional 1,308 shares during the period. GAMMA Investing LLC raised its holdings in shares of Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after acquiring an additional 1,040 shares in the last quarter. USA Financial Formulas bought a new stake in Cinemark in the third quarter valued at $77,000. CWM LLC increased its position in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in Cinemark by 38.7% in 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 in the last quarter.

Analysts Set New Price Targets

CNK has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Roth Mkm upped their target price on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Wells Fargo & Company upped their price target on Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, Wedbush lowered Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Stock Performance

Shares of CNK stock opened at $28.64 on Friday. The company’s 50-day moving average is $31.96 and its 200 day moving average is $28.44. 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 Holdings, Inc. has a one year low of $13.45 and a one year high of $36.28. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.55 and a beta of 2.40.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.61. The company had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.61 earnings per share. Sell-side analysts expect that Cinemark Holdings, Inc. will post 2.06 EPS for the current fiscal year.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by company 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.