Seven Eight Capital LP Purchases New Shares in Cinemark Holdings, Inc. (NYSE:CNK)

Seven Eight Capital LP purchased a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNKFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 56,060 shares of the company’s stock, valued at approximately $1,029,000.

A number of other hedge funds also recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its stake in Cinemark by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,082 shares of the company’s stock valued at $150,000 after purchasing an additional 607 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Cinemark by 38.8% during the first quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $39,000 after purchasing an additional 749 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Cinemark by 14.3% during the second quarter. PNC Financial Services Group Inc. now owns 6,467 shares of the company’s stock valued at $107,000 after purchasing an additional 808 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Cinemark by 1.7% during the third quarter. Los Angeles Capital Management LLC now owns 58,368 shares of the company’s stock valued at $1,071,000 after acquiring an additional 967 shares during the last quarter. Finally, First National Bank of Hutchinson increased its position in Cinemark by 1.4% during the third quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock valued at $1,282,000 after acquiring an additional 989 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CNK shares. JPMorgan Chase & Co. cut their price target on shares of Cinemark from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. The Goldman Sachs Group dropped their target price on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of Cinemark in a report on Tuesday, February 13th. Finally, Wells Fargo & Company cut shares of Cinemark from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $16.00 to $13.00 in a report on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.40.

Check Out Our Latest Research Report on CNK

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total value of $328,182.75. Following the transaction, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a filing with the SEC, which is available through this link. 10.00% of the stock is owned by corporate insiders.

Cinemark Stock Performance

Shares of Cinemark stock opened at $17.65 on Friday. The firm has a market capitalization of $2.15 billion, a P/E ratio of 14.35, a PEG ratio of 2.21 and a beta of 2.27. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. The company has a 50 day moving average price of $14.98 and a 200 day moving average price of $15.63. Cinemark Holdings, Inc. has a 52 week low of $12.07 and a 52 week high of $19.85.

Cinemark (NYSE:CNKGet Free Report) last announced its quarterly earnings data on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The company had revenue of $638.90 million during the quarter, compared to analysts’ expectations of $619.67 million. During the same period in the previous year, the business earned ($0.82) earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts expect that Cinemark Holdings, Inc. will post 0.77 EPS for the current year.

About Cinemark

(Free Report)

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 24, 20223 it operated 518 theatres with 5,847 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

See Also

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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