New York State Teachers Retirement System Has $1.54 Million Position in Cinemark Holdings, Inc. (NYSE:CNK)

New York State Teachers Retirement System increased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 109,351 shares of the company’s stock after purchasing an additional 7,013 shares during the quarter. New York State Teachers Retirement System’s holdings in Cinemark were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. VitalStone Financial LLC acquired a new stake in Cinemark during the 1st quarter worth approximately $27,000. Tower Research Capital LLC TRC raised its holdings in Cinemark by 38.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $39,000 after acquiring an additional 749 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new position in Cinemark in the 2nd quarter valued at $48,000. State of Wyoming acquired a new position in Cinemark in the 2nd quarter valued at $55,000. Finally, NBC Securities Inc. acquired a new position in Cinemark in the 3rd quarter valued at $74,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNK. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $23.00 in a report on Friday, April 5th. The Goldman Sachs Group dropped their price objective on Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a report on Thursday, January 11th. Benchmark reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Cinemark in a report on Wednesday, April 10th. Roth Mkm lifted their price objective on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cinemark currently has an average rating of “Hold” and an average price target of $19.56.

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Cinemark Trading Up 2.5 %

Shares of CNK opened at $18.12 on Wednesday. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $20.40. The business’s fifty day moving average is $17.41 and its 200-day moving average is $15.87. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.42 and a current ratio of 1.45. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 2.22 and a beta of 2.27.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, February 16th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $638.90 million for the quarter, compared to the consensus estimate of $619.67 million. Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.82) EPS. Equities analysts anticipate that Cinemark Holdings, Inc. will post 0.8 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.