State of Alaska Department of Revenue Trims Position in Cinemark Holdings, Inc. (NYSE:CNK)

State of Alaska Department of Revenue lessened its stake in shares of Cinemark Holdings, Inc. (NYSE:CNKGet Rating) by 8.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,285 shares of the company’s stock after selling 6,809 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Cinemark worth $899,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wolverine Asset Management LLC grew its holdings in Cinemark by 6.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 78,407 shares of the company’s stock valued at $1,177,000 after buying an additional 4,900 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Cinemark during the 3rd quarter valued at about $621,000. Seaview Investment Managers LLC grew its holdings in shares of Cinemark by 3.8% during the second quarter. Seaview Investment Managers LLC now owns 903,600 shares of the company’s stock worth $13,572,000 after purchasing an additional 33,279 shares in the last quarter. Hodges Capital Management Inc. grew its holdings in shares of Cinemark by 31.4% during the second quarter. Hodges Capital Management Inc. now owns 1,076,187 shares of the company’s stock worth $16,165,000 after purchasing an additional 257,365 shares in the last quarter. Finally, Polaris Capital Management LLC grew its holdings in shares of Cinemark by 10.0% during the second quarter. Polaris Capital Management LLC now owns 3,958,696 shares of the company’s stock worth $59,460,000 after purchasing an additional 359,038 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Cinemark Stock Performance

Shares of CNK stock opened at $8.42 on Monday. The company has a debt-to-equity ratio of 12.49, a quick ratio of 1.24 and a current ratio of 1.27. Cinemark Holdings, Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $19.76. The stock has a 50 day moving average price of $11.30 and a two-hundred day moving average price of $13.34. The company has a market capitalization of $1.01 billion, a P/E ratio of -6.10, a PEG ratio of 1.85 and a beta of 2.16.

Cinemark (NYSE:CNKGet Rating) last announced its quarterly earnings data on Friday, November 4th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. Cinemark had a negative return on equity of 27.93% and a negative net margin of 6.59%. The firm had revenue of $650.40 million during the quarter, compared to the consensus estimate of $616.20 million. Analysts expect that Cinemark Holdings, Inc. will post -1.56 earnings per share for the current year.

Analyst Ratings Changes

CNK has been the subject of several recent analyst reports. Credit Suisse Group lowered Cinemark from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $25.00 to $9.00 in a report on Wednesday, October 12th. B. Riley cut their price objective on Cinemark from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, January 3rd. JPMorgan Chase & Co. cut their price objective on Cinemark from $19.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, October 10th. Benchmark cut their price objective on Cinemark from $22.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, December 21st. Finally, The Goldman Sachs Group cut their target price on Cinemark from $12.50 to $11.00 and set a “sell” rating for the company in a research note on Tuesday, October 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.56.

Insider Buying and Selling at Cinemark

In other Cinemark news, Director Enrique Senior sold 35,054 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $12.47, for a total value of $437,123.38. Following the completion of the sale, the director now owns 46,609 shares in the company, valued at $581,214.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Cinemark 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.

See Also

Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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