Wedge Capital Management L L P NC Takes Position in Cinemark Holdings, Inc. (NYSE:CNK)

Wedge Capital Management L L P NC purchased a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNKGet Rating) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,269 shares of the company’s stock, valued at approximately $154,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elequin Capital LP purchased a new stake in shares of Cinemark in the 1st quarter worth $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Cinemark in the 4th quarter worth $32,000. Herold Advisors Inc. purchased a new stake in shares of Cinemark in the 1st quarter worth $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Cinemark in the 4th quarter worth $37,000. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of Cinemark in the 1st quarter worth $89,000. 96.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CNK has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $22.00 price objective on shares of Cinemark in a research note on Tuesday, August 2nd. Benchmark set a $27.00 price objective on Cinemark in a research note on Tuesday, July 19th. Morgan Stanley upgraded Cinemark from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Tuesday, July 19th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Wells Fargo & Company cut their price target on Cinemark from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of “Hold” and an average target price of $21.58.

Cinemark Trading Down 3.8 %

Shares of Cinemark stock opened at $12.57 on Thursday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -6.87 and a beta of 2.18. The business has a 50-day moving average price of $16.11 and a 200-day moving average price of $16.01. The company has a quick ratio of 1.17, a current ratio of 1.20 and a debt-to-equity ratio of 11.75. Cinemark Holdings, Inc. has a twelve month low of $12.56 and a twelve month high of $23.15.

Cinemark (NYSE:CNKGet Rating) last issued its quarterly earnings data on Friday, August 5th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.83). The firm had revenue of $744.10 million for the quarter, compared to analysts’ expectations of $733.88 million. Cinemark had a negative net margin of 9.52% and a negative return on equity of 43.57%. The company’s revenue for the quarter was up 152.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.19) EPS. Equities research analysts anticipate that Cinemark Holdings, Inc. will post -1.35 EPS for the current fiscal year.

Cinemark Company Profile

(Get Rating)

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

Further Reading

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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