Ritholtz Wealth Management Purchases 18,371 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Ritholtz Wealth Management grew its position in Cinemark Holdings, Inc. (NYSE:CNK) by 104.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 35,953 shares of the company’s stock after acquiring an additional 18,371 shares during the period. Ritholtz Wealth Management’s holdings in Cinemark were worth $1,114,000 at the end of the most recent reporting period.

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

Cinemark Price Performance

NYSE:CNK opened at $28.64 on Monday. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.55 and a beta of 2.40. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The business has a 50 day simple moving average of $31.96 and a 200-day simple moving average of $28.49. Cinemark Holdings, Inc. has a 1 year low of $13.45 and a 1 year high of $36.28.

Cinemark (NYSE:CNK) last issued its quarterly 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. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. During the same period last year, the company earned $0.61 earnings per share. Cinemark’s revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Cinemark Holdings, Inc. will post 2.06 EPS for the current year.

Insider Activity at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s 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 transaction, the insider now owns 179,729 shares of the company’s stock, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CNK shares. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Thursday, October 31st. Morgan Stanley raised their target price on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Roth Mkm lifted their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price objective on shares of Cinemark from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Wedbush downgraded 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 assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Cinemark Company 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.