QRG Capital Management Inc. Has $444,000 Stake in Cinemark Holdings, Inc. (NYSE:CNK)

QRG Capital Management Inc. raised its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,557 shares of the company’s stock after acquiring an additional 1,148 shares during the period. QRG Capital Management Inc.’s holdings in Cinemark were worth $444,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. NBC Securities Inc. grew its holdings in shares of Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after purchasing an additional 700 shares during the last quarter. Virtu Financial LLC acquired a new position in Cinemark in the fourth quarter valued at about $192,000. Mackenzie Financial Corp bought a new stake in Cinemark during the fourth quarter worth about $210,000. Watershed Asset Management L.L.C. increased its holdings in shares of Cinemark by 6.2% during the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after buying an additional 915 shares in the last quarter. Finally, Inspire Advisors LLC bought a new position in shares of Cinemark in the first quarter valued at approximately $240,000.

Cinemark Trading Up 3.5 %

Shares of NYSE CNK opened at $26.90 on Tuesday. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $26.92. The firm has a market capitalization of $3.29 billion, a P/E ratio of 18.55, a P/E/G ratio of 2.14 and a beta of 2.36. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The company’s 50 day simple moving average is $21.05 and its 200 day simple moving average is $18.53.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue for the quarter was down 22.1% compared to the same quarter last year. On average, analysts predict that Cinemark Holdings, Inc. will post 1.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CNK shares. Morgan Stanley increased their price target on Cinemark from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Barrington Research restated an “outperform” rating and set a $24.00 target price on shares of Cinemark in a report on Friday, August 2nd. B. Riley lifted their price target on Cinemark from $27.00 to $31.00 and gave the company a “buy” rating in a report on Monday, August 5th. Benchmark reiterated a “buy” rating and set a $23.00 price target on shares of Cinemark in a research report on Monday, July 1st. Finally, Roth Mkm raised their price objective on shares of Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.60.

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.