Mutual of America Capital Management LLC Sells 1,477 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Mutual of America Capital Management LLC lowered its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 8.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,061 shares of the company’s stock after selling 1,477 shares during the period. Mutual of America Capital Management LLC’s holdings in Cinemark were worth $447,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC raised its holdings in shares of Cinemark by 2.9% during the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock valued at $575,000 after acquiring an additional 583 shares in the last quarter. Aigen Investment Management LP raised its holdings in Cinemark by 198.9% in the 3rd quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock worth $1,375,000 after purchasing an additional 32,870 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Cinemark in the 3rd quarter worth about $572,000. Entropy Technologies LP bought a new stake in shares of Cinemark during the 3rd quarter valued at about $893,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Cinemark during the third quarter valued at about $1,960,000.

Cinemark Price Performance

CNK opened at $34.18 on Thursday. The firm has a market cap of $4.18 billion, a PE ratio of 22.05, a P/E/G ratio of 1.67 and a beta of 2.35. The stock has a 50-day moving average price of $29.65 and a 200-day moving average price of $25.01. Cinemark Holdings, Inc. has a 1 year low of $13.19 and a 1 year high of $34.43. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96.

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 firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Sell-side analysts predict that Cinemark Holdings, Inc. will post 2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on CNK. Barrington Research upgraded 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. 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 note on Monday, October 14th. Morgan Stanley upped their price target on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Roth Mkm raised their price objective on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Macquarie boosted their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment 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. According to data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $31.10.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

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.