Entropy Technologies LP Invests $893,000 in Cinemark Holdings, Inc. (NYSE:CNK)

Entropy Technologies LP bought a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,065 shares of the company’s stock, valued at approximately $893,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CNK. State of New Jersey Common Pension Fund D bought a new position in shares of Cinemark in the third quarter worth about $1,960,000. Crossmark Global Holdings Inc. bought a new stake in Cinemark during the 3rd quarter worth approximately $209,000. Principal Financial Group Inc. lifted its holdings in Cinemark by 18.8% during the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after purchasing an additional 99,843 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Cinemark during the third quarter valued at approximately $12,133,000. Finally, International Assets Investment Management LLC bought a new position in shares of Cinemark in the third quarter worth approximately $9,530,000.

Cinemark Price Performance

Cinemark stock opened at $31.79 on Thursday. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $33.11. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.64 and a beta of 2.35. The firm’s fifty day moving average is $28.72 and its 200 day moving average is $23.89. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million during 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 firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. Sell-side analysts forecast that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the business’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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CNK. JPMorgan Chase & Co. lifted their target price on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Thursday, October 31st. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Tuesday, August 27th. Macquarie upped their price target on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their price objective on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

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.