Renaissance Technologies LLC Has $85.51 Million Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Renaissance Technologies LLC decreased its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,954,949 shares of the company’s stock after selling 206,569 shares during the quarter. Renaissance Technologies LLC owned about 3.23% of Cinemark worth $85,506,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CNK. Arizona State Retirement System increased its holdings in shares of Cinemark by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock worth $662,000 after acquiring an additional 556 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Cinemark by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock worth $2,209,000 after acquiring an additional 612 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Cinemark by 5.9% during the 2nd quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock worth $444,000 after acquiring an additional 1,148 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Cinemark by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the company’s stock worth $1,161,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings 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 worth $1,664,000 after acquiring an additional 1,345 shares during the last quarter.

Cinemark Stock Performance

NYSE:CNK opened at $28.41 on Tuesday. The stock has a fifty day moving average price of $25.34 and a 200-day moving average price of $20.79. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.12 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $29.07.

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

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. The sale was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CNK has been the topic of a number of research reports. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a report on Tuesday, August 27th. JPMorgan Chase & Co. upped their price objective on Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Macquarie upped their price objective on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Wedbush upped their price objective on Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Finally, Morgan Stanley upped their price objective on Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.20.

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.