Federated Hermes Inc. Has $9.82 Million Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Federated Hermes Inc. lifted its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 17.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 696,859 shares of the company’s stock after purchasing an additional 101,272 shares during the period. Federated Hermes Inc.’s holdings in Cinemark were worth $9,819,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cinemark by 1.6% during the third quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock worth $254,046,000 after purchasing an additional 214,102 shares during the period. Wellington Management Group LLP raised its position in shares of Cinemark by 1.7% during the third quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company’s stock worth $248,646,000 after purchasing an additional 232,619 shares during the period. Sycale Advisors NY LLC raised its position in shares of Cinemark by 19.6% during the third quarter. Sycale Advisors NY LLC now owns 589,020 shares of the company’s stock worth $10,809,000 after purchasing an additional 96,678 shares during the period. First Dallas Securities Inc. raised its position in shares of Cinemark by 2,363.4% during the third quarter. First Dallas Securities Inc. now owns 511,152 shares of the company’s stock worth $9,380,000 after purchasing an additional 490,402 shares during the period. Finally, Trexquant Investment LP raised its position in shares of Cinemark by 76.1% during the third quarter. Trexquant Investment LP now owns 432,971 shares of the company’s stock worth $7,945,000 after purchasing an additional 187,113 shares during the period.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the company’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 transaction, the insider now owns 179,591 shares of the company’s stock, valued at approximately $3,008,149.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

Cinemark Stock Down 0.2 %

Shares of NYSE:CNK opened at $17.83 on Wednesday. The company has a market capitalization of $2.17 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 2.15 and a beta of 2.27. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.45 and a quick ratio of 1.42. The business has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $15.85. Cinemark Holdings, Inc. has a 1 year low of $13.19 and a 1 year high of $20.40.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, February 16th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $638.90 million during the quarter, compared to the consensus estimate of $619.67 million. Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.82) EPS. Analysts forecast that Cinemark Holdings, Inc. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CNK shares. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $23.00 in a report on Friday, April 5th. Barrington Research reiterated an “outperform” rating and set a $24.00 price target on shares of Cinemark in a report on Monday. Wedbush upped their price target on Cinemark from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. Finally, The Goldman Sachs Group decreased their price target on Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.11.

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.