Castellan Group Buys New Shares in Cinemark Holdings, Inc. (NYSE:CNK)

Castellan Group bought a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 220,200 shares of the company’s stock, valued at approximately $6,130,000. Cinemark comprises approximately 2.6% of Castellan Group’s investment portfolio, making the stock its 16th biggest holding.

Other large investors have also recently bought and sold shares of the company. Quarry LP raised its stake in Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 1,308 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Cinemark in the 3rd quarter valued at $77,000. CWM LLC raised its stake in shares of Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares in the last quarter.

Cinemark Trading Up 0.6 %

Shares of NYSE CNK traded up $0.21 during mid-day trading on Thursday, hitting $33.24. The company’s stock had a trading volume of 136,003 shares, compared to its average volume of 2,830,728. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.76 and a beta of 2.38. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a one year low of $13.19 and a one year high of $36.28. The company’s fifty day simple moving average is $31.04 and its 200-day simple moving average is $26.18.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNK. The Goldman Sachs Group increased their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research note on Thursday, September 19th. Roth Mkm increased their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Thursday, October 31st. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Finally, Wedbush lowered shares of Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the sale, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

About Cinemark

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.