Headlands Technologies LLC Makes New $242,000 Investment in Cinemark Holdings, Inc. (NYSE:CNK)

Headlands Technologies LLC bought a new position in Cinemark Holdings, Inc. (NYSE:CNK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,213 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Third Point LLC bought a new position in shares of Cinemark during the 1st quarter valued at $89,850,000. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 213,593 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Cinemark by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after purchasing an additional 35,993 shares in the last quarter. Steadfast Capital Management LP bought a new position in shares of Cinemark during the 1st quarter valued at $29,323,000. Finally, Hennessy Advisors Inc. raised its holdings in shares of Cinemark by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 234,400 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CNK shares. Wedbush raised their price target on shares of Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Benchmark reissued a “buy” rating and set a $23.00 target price on shares of Cinemark in a research report on Monday, July 1st. Roth Capital raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. Roth Mkm boosted their target price on shares of Cinemark from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Morgan Stanley boosted their target price on shares of Cinemark from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.20.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by insiders.

Cinemark Stock Performance

NYSE:CNK opened at $28.75 on Friday. The firm’s 50-day moving average is $25.21 and its 200-day moving average is $20.66. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $29.07. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.12 and a beta of 2.36.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $691.74 million. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue was down 22.1% compared to the same quarter last year. Equities research analysts anticipate that Cinemark Holdings, Inc. will post 1.33 earnings per share 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.