Illinois Municipal Retirement Fund Takes Position in Cinemark Holdings, Inc. (NYSE:CNK)

Illinois Municipal Retirement Fund acquired a new position in Cinemark Holdings, Inc. (NYSE:CNK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 63,961 shares of the company’s stock, valued at approximately $901,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in shares of Cinemark by 4.5% during the third quarter. Commonwealth Equity Services LLC now owns 320,879 shares of the company’s stock worth $5,888,000 after purchasing an additional 13,720 shares during the period. Tectonic Advisors LLC increased its stake in shares of Cinemark by 7.7% in the 3rd quarter. Tectonic Advisors LLC now owns 45,670 shares of the company’s stock valued at $838,000 after acquiring an additional 3,260 shares during the last quarter. First National Bank of Hutchinson raised its position in shares of Cinemark by 1.4% in the 3rd quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock valued at $1,282,000 after acquiring an additional 989 shares during the period. Mitchell Capital Management Co. boosted its stake in Cinemark by 0.4% during the 3rd 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 last quarter. Finally, Capula Management Ltd grew its holdings in Cinemark by 53.4% during the third quarter. Capula Management Ltd now owns 57,040 shares of the company’s stock valued at $1,047,000 after purchasing an additional 19,860 shares during the period.

Cinemark Price Performance

Shares of CNK opened at $17.65 on Monday. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 2.08 and a beta of 2.27. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73. The company’s fifty day simple moving average is $17.79 and its 200 day simple moving average is $15.82. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $20.40.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CNK shares. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. Benchmark reiterated a “buy” rating and set a $22.00 target price on shares of Cinemark in a report on Wednesday, April 10th. Barrington Research restated an “outperform” rating and issued a $24.00 price target on shares of Cinemark in a report on Monday, April 22nd. The Goldman Sachs Group lowered their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Finally, Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $23.00 in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cinemark presently has an average rating of “Hold” and a consensus price target of $20.11.

Insider Activity

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the business’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 transaction of $328,182.75. Following the transaction, the insider now directly owns 179,591 shares of the company’s stock, valued at approximately $3,008,149.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

Cinemark Company 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.