Victory Capital Management Inc. Decreases Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Victory Capital Management Inc. decreased its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,807,317 shares of the company’s stock after selling 104,288 shares during the quarter. Victory Capital Management Inc. owned about 1.49% of Cinemark worth $25,465,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CNK. Commonwealth Equity Services LLC lifted its position in Cinemark by 4.5% during the third quarter. Commonwealth Equity Services LLC now owns 320,879 shares of the company’s stock worth $5,888,000 after buying an additional 13,720 shares in the last quarter. First National Bank of Hutchinson raised its holdings in shares of Cinemark by 1.4% during the 3rd quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock worth $1,282,000 after acquiring an additional 989 shares during the period. Mitchell Capital Management Co. boosted its position in shares of Cinemark by 0.4% during the 3rd quarter. Mitchell Capital Management Co. now owns 387,784 shares of the company’s stock valued at $7,116,000 after acquiring an additional 1,470 shares during the last quarter. Capula Management Ltd grew its holdings in shares of Cinemark by 53.4% in the third quarter. Capula Management Ltd now owns 57,040 shares of the company’s stock valued at $1,047,000 after purchasing an additional 19,860 shares during the period. Finally, NBC Securities Inc. acquired a new stake in Cinemark during the third quarter worth about $74,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CNK. StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Benchmark reiterated a “buy” rating and set a $23.00 price target on shares of Cinemark in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their target price on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company upgraded shares of Cinemark from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $23.00 in a research report on Friday, April 5th. Finally, B. Riley upped their price objective on shares of Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cinemark presently has a consensus rating of “Hold” and a consensus target price of $20.33.

Insider Transactions at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total value of $328,182.75. Following the sale, the insider now owns 179,591 shares of the company’s stock, valued at $3,008,149.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Cinemark Price Performance

Cinemark stock opened at $17.37 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $20.40. The firm has a market cap of $2.13 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25. The company’s 50 day moving average is $17.94 and its two-hundred day moving average is $15.87.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business had revenue of $579.00 million for the quarter, compared to analysts’ expectations of $561.91 million. During the same period last year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, research analysts expect that Cinemark Holdings, Inc. will post 0.86 EPS for the current fiscal 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.