State of New Jersey Common Pension Fund D Takes $1.96 Million Position in Cinemark Holdings, Inc. (NYSE:CNK)

State of New Jersey Common Pension Fund D purchased a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,414 shares of the company’s stock, valued at approximately $1,960,000.

Other large investors also recently modified their holdings of the company. Third Point LLC bought a new position in Cinemark during the first quarter valued at about $89,850,000. Steadfast Capital Management LP bought a new position in Cinemark during the first quarter valued at about $29,323,000. Jericho Capital Asset Management L.P. bought a new position in Cinemark during the first quarter valued at about $15,975,000. Nut Tree Capital Management LP bought a new position in Cinemark during the first quarter valued at about $13,250,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Cinemark in the 3rd quarter valued at $12,133,000.

Cinemark Stock Down 0.4 %

Shares of Cinemark stock opened at $31.84 on Monday. The stock has a 50-day moving average price of $28.95 and a 200 day moving average price of $24.14. The company has a market cap of $3.90 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.60 and a beta of 2.35. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. Cinemark Holdings, Inc. has a 1 year low of $13.19 and a 1 year high of $33.11.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. During the same period last year, the business earned $0.61 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

CNK has been the subject of a number of recent analyst reports. Roth Mkm increased their price target on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price target on Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Thursday, October 31st. Finally, Wedbush lowered Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.80.

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.