Allspring Global Investments Holdings LLC Has $151,000 Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Allspring Global Investments Holdings LLC trimmed its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 10.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,439 shares of the company’s stock after selling 622 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cinemark were worth $151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNK. Easterly Investment Partners LLC boosted its stake in Cinemark by 1.1% during the first quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock worth $8,839,000 after acquiring an additional 5,236 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Cinemark by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock valued at $1,664,000 after buying an additional 1,345 shares during the last quarter. Mitchell Capital Management Co. raised its position in shares of Cinemark by 3.0% in the first quarter. Mitchell Capital Management Co. now owns 395,801 shares of the company’s stock valued at $7,113,000 after purchasing an additional 11,443 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cinemark during the 1st quarter valued at $1,865,000. Finally, Sei Investments Co. boosted its position in shares of Cinemark by 38.1% in the first quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after acquiring an additional 31,739 shares during the period.

Cinemark Price Performance

NYSE CNK opened at $29.85 on Monday. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.02 and a beta of 2.35. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 4.11. The company’s 50 day moving average is $28.24 and its two-hundred day moving average is $23.23. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month high of $31.09.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Cinemark Holdings, Inc. will post 1.47 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Macquarie boosted their price objective on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday. The Goldman Sachs Group upped their price objective on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company lifted their price objective on Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cinemark currently has an average rating of “Moderate Buy” and an average target price of $30.80.

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.