Duquesne Family Office LLC Reduces Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Duquesne Family Office LLC lowered its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 62.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 400,792 shares of the company’s stock after selling 677,843 shares during the quarter. Duquesne Family Office LLC owned approximately 0.33% of Cinemark worth $8,665,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNK. Park West Asset Management LLC lifted its position in shares of Cinemark by 34.3% in the fourth quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock valued at $16,556,000 after acquiring an additional 300,000 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Cinemark by 38.1% during the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock worth $2,069,000 after purchasing an additional 31,739 shares during the last quarter. Peconic Partners LLC grew its holdings in shares of Cinemark by 66.7% during the fourth quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock worth $7,045,000 after buying an additional 200,000 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Cinemark by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock worth $23,286,000 after buying an additional 160,200 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new position in shares of Cinemark in the fourth quarter valued at approximately $3,994,000.

Wall Street Analyst Weigh In

CNK has been the subject of several recent analyst reports. Macquarie lifted their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Morgan Stanley upped their target price on Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. The Goldman Sachs Group raised their price target on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Roth Capital raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.00.

Insider Buying and Selling

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Cinemark Price Performance

CNK opened at $26.86 on Thursday. The company has a 50 day moving average of $26.27 and a two-hundred day moving average of $21.29. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $29.07. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The company has a market cap of $3.29 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.07 and a beta of 2.36.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.25. The firm had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. On average, analysts expect that Cinemark Holdings, Inc. will post 1.33 earnings per share for the current 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.