Wedge Capital Management L L P NC Purchases 10,860 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Wedge Capital Management L L P NC lifted its position in Cinemark Holdings, Inc. (NYSE:CNK) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,697 shares of the company’s stock after buying an additional 10,860 shares during the period. Wedge Capital Management L L P NC’s holdings in Cinemark were worth $841,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of Cinemark in the 3rd quarter valued at $74,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Cinemark in the 3rd quarter valued at $193,000. Algert Global LLC bought a new stake in shares of Cinemark in the 3rd quarter valued at $222,000. Mackenzie Financial Corp bought a new position in Cinemark during the 4th quarter worth about $210,000. Finally, Corton Capital Inc. bought a new position in Cinemark during the 3rd quarter worth about $280,000.

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the transaction, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CNK has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Roth Mkm increased their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $13.00 to $23.00 in a report on Friday, April 5th. Barrington Research reiterated an “outperform” rating and set a $24.00 target price on shares of Cinemark in a report on Monday. Finally, B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.11.

Cinemark Price Performance

NYSE:CNK opened at $17.48 on Friday. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.42 and a current ratio of 1.45. The stock’s 50-day simple moving average is $17.77 and its 200 day simple moving average is $15.87. The company has a market cap of $2.13 billion, a P/E ratio of 14.21, a P/E/G ratio of 2.09 and a beta of 2.27. Cinemark Holdings, Inc. has a 52-week low of $13.19 and a 52-week high of $20.40.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The business had revenue of $638.90 million for the quarter, compared to the consensus estimate of $619.67 million. During the same quarter in the previous year, the business posted ($0.82) EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Cinemark Holdings, Inc. will post 0.85 EPS for the current fiscal year.

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.