Assenagon Asset Management S.A. Has $757,000 Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Posted by on Oct 18th, 2023

Assenagon Asset Management S.A. trimmed its holdings in Cinemark Holdings, Inc. (NYSE:CNK – Free Report) by 72.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,909 shares of the company’s stock after selling 117,982 shares during the period. Assenagon Asset Management S.A.’s holdings in Cinemark were worth $757,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. VitalStone Financial LLC acquired a new stake in shares of Cinemark in the first quarter valued at approximately $27,000. Fifth Third Bancorp lifted its position in shares of Cinemark by 69.0% in the first quarter. Fifth Third Bancorp now owns 1,710 shares of the company’s stock valued at $25,000 after buying an additional 698 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Cinemark by 272.2% in the first quarter. Versant Capital Management Inc now owns 1,969 shares of the company’s stock valued at $29,000 after buying an additional 1,440 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Cinemark by 38.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $39,000 after buying an additional 749 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Cinemark by 835.5% during the 1st quarter. Parkside Financial Bank & Trust now owns 3,218 shares of the company’s stock worth $48,000 after purchasing an additional 2,874 shares during the last quarter.

Cinemark Price Performance

Cinemark stock opened at $16.50 on Wednesday. The stock’s fifty day moving average price is $17.34 and its two-hundred day moving average price is $16.80. Cinemark Holdings, Inc. has a one year low of $8.28 and a one year high of $19.85. The company has a debt-to-equity ratio of 9.70, a current ratio of 1.31 and a quick ratio of 1.27. The firm has a market cap of $2.01 billion, a PE ratio of -66.00, a price-to-earnings-growth ratio of 1.60 and a beta of 2.18.

Cinemark (NYSE:CNK – Get Free Report) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.26. Cinemark had a negative return on equity of 4.43% and a negative net margin of 0.28%. The company had revenue of $942.30 million for the quarter, compared to analyst estimates of $870.21 million. During the same quarter last year, the company posted $0.17 EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, research analysts expect that Cinemark Holdings, Inc. will post 1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNK has been the subject of several research reports. JPMorgan Chase & Co. cut Cinemark from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $18.00 in a report on Wednesday, July 19th. Benchmark lifted their price target on Cinemark from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, October 6th. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Cinemark in a report on Monday, August 7th. Barrington Research reissued an “outperform” rating and set a $22.00 price target (up from $20.00) on shares of Cinemark in a report on Monday, August 7th. Finally, B. Riley lifted their price target on Cinemark from $23.00 to $24.00 in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.06.

Check Out Our Latest Stock Analysis on Cinemark

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.

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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