Cinemark Holdings, Inc. (NYSE:CNK) is Hennessy Advisors Inc.’s 9th Largest Position

Hennessy Advisors Inc. lifted its position in Cinemark Holdings, Inc. (NYSE:CNK) by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,989,300 shares of the company’s stock after purchasing an additional 241,600 shares during the quarter. Cinemark comprises about 1.8% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 9th biggest position. Hennessy Advisors Inc. owned about 1.63% of Cinemark worth $61,629,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CNK. Natixis Advisors LLC increased its stake in Cinemark by 2.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after acquiring an additional 583 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares during the last quarter. GAMMA Investing LLC raised its stake in Cinemark by 44.9% during the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $91,000 after purchasing an additional 906 shares in the last quarter. Quarry LP raised its stake in Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 1,308 shares in the last quarter. Finally, CWM LLC lifted its position in Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNK. Morgan Stanley boosted their target price on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company boosted their price objective on Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. 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. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, The Goldman Sachs Group raised their price target on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.80.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were 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 owns 179,729 shares in the company, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Cinemark Trading Down 1.6 %

Shares of CNK opened at $28.58 on Friday. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.55 and a beta of 2.40. The company has a 50-day moving average of $32.02 and a 200 day moving average of $28.34. Cinemark Holdings, Inc. has a 1-year low of $13.27 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, research analysts expect that Cinemark Holdings, Inc. will post 2.06 EPS for the current 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.