Louisiana State Employees Retirement System Takes $748,000 Position in Cinemark Holdings, Inc. (NYSE:CNK)

Louisiana State Employees Retirement System acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,100 shares of the company’s stock, valued at approximately $748,000.

A number of other hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC increased its holdings in shares of Cinemark by 1.7% in the third quarter. Los Angeles Capital Management LLC now owns 58,368 shares of the company’s stock valued at $1,071,000 after purchasing an additional 967 shares during the period. First National Bank of Hutchinson increased its holdings in shares of Cinemark by 1.4% in the third quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock valued at $1,282,000 after purchasing an additional 989 shares during the period. Natixis Advisors L.P. increased its holdings in shares of Cinemark by 5.9% in the third quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock valued at $408,000 after purchasing an additional 1,241 shares during the period. Tectonic Advisors LLC increased its holdings in shares of Cinemark by 2.7% in the fourth quarter. Tectonic Advisors LLC now owns 46,913 shares of the company’s stock valued at $661,000 after purchasing an additional 1,243 shares during the period. Finally, Mitchell Capital Management Co. grew its holdings in Cinemark by 0.4% during the third quarter. Mitchell Capital Management Co. now owns 387,784 shares of the company’s stock worth $7,116,000 after acquiring an additional 1,470 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNK. Wedbush reaffirmed an “outperform” rating and set a $23.00 target price on shares of Cinemark in a report on Thursday. Roth Mkm raised their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $23.00 in a report on Friday, April 5th. The Goldman Sachs Group dropped their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of Cinemark in a report on Wednesday, April 10th. One equities research 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’s stock. According to data from MarketBeat.com, Cinemark currently has an average rating of “Hold” and a consensus target price of $20.11.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the transaction, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Cinemark Stock Up 1.0 %

Shares of CNK opened at $17.65 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month high of $20.40. The stock’s 50 day moving average is $17.79 and its two-hundred day moving average is $15.84. The firm has a market cap of $2.15 billion, a P/E ratio of 14.35, a PEG ratio of 2.06 and a beta of 2.27.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $638.90 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) earnings per share. Analysts predict that Cinemark Holdings, Inc. will post 0.85 earnings per share for the current fiscal year.

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.