RBF Capital LLC trimmed its position in Cinemark Holdings, Inc. (NYSE:CNK – Get Rating) by 84.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,000 shares of the company’s stock after selling 120,409 shares during the quarter. RBF Capital LLC’s holdings in Cinemark were worth $383,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Elequin Capital LP purchased a new position in shares of Cinemark in the 1st quarter worth about $25,000. Graham Capital Management L.P. raised its holdings in shares of Cinemark by 395.3% in the 1st quarter. Graham Capital Management L.P. now owns 94,829 shares of the company’s stock worth $1,638,000 after purchasing an additional 75,685 shares during the period. Invesco Ltd. raised its holdings in shares of Cinemark by 17.3% in the 1st quarter. Invesco Ltd. now owns 302,970 shares of the company’s stock worth $5,235,000 after purchasing an additional 44,643 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Cinemark by 72.7% in the 1st quarter. Hsbc Holdings PLC now owns 220,853 shares of the company’s stock worth $3,854,000 after purchasing an additional 92,973 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Cinemark by 241.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,334,400 shares of the company’s stock valued at $23,058,000 after buying an additional 943,100 shares during the period. 96.54% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CNK has been the topic of several analyst reports. B. Riley dropped their target price on Cinemark from $29.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. Benchmark set a $27.00 target price on Cinemark in a report on Tuesday, July 19th. Morgan Stanley upgraded Cinemark from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a report on Tuesday, July 19th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Finally, Wedbush reiterated an “outperform” rating and set a $22.00 target price on shares of Cinemark in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Cinemark has an average rating of “Hold” and an average price target of $21.58.
Cinemark Price Performance
Cinemark (NYSE:CNK – Get Rating) last posted its quarterly earnings data on Friday, August 5th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.83). Cinemark had a negative return on equity of 43.57% and a negative net margin of 9.52%. The business had revenue of $744.10 million for the quarter, compared to analysts’ expectations of $733.88 million. During the same quarter in the prior year, the firm earned ($1.19) earnings per share. Cinemark’s revenue for the quarter was up 152.6% compared to the same quarter last year. Analysts predict that Cinemark Holdings, Inc. will post -1.35 earnings per share for the current fiscal year.
Cinemark Company Profile
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.
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