Watershed Asset Management L.L.C. Increases Stake in Cinemark Holdings, Inc. (NYSE:CNK)

Watershed Asset Management L.L.C. increased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,658 shares of the company’s stock after buying an additional 915 shares during the period. Watershed Asset Management L.L.C.’s holdings in Cinemark were worth $221,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its position in Cinemark by 4.5% during the third quarter. Commonwealth Equity Services LLC now owns 320,879 shares of the company’s stock valued at $5,888,000 after purchasing an additional 13,720 shares in the last quarter. Tectonic Advisors LLC boosted its position in Cinemark by 7.7% during the third quarter. Tectonic Advisors LLC now owns 45,670 shares of the company’s stock valued at $838,000 after purchasing an additional 3,260 shares in the last quarter. First National Bank of Hutchinson boosted 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 purchasing an additional 989 shares in the last quarter. Mitchell Capital Management Co. boosted its position in Cinemark by 0.4% during the third quarter. Mitchell Capital Management Co. now owns 387,784 shares of the company’s stock valued at $7,116,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Capula Management Ltd boosted its position in Cinemark by 53.4% during the third quarter. Capula Management Ltd now owns 57,040 shares of the company’s stock valued at $1,047,000 after purchasing an additional 19,860 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Roth Mkm raised their price objective on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Benchmark reissued a “buy” rating and issued a $22.00 price target on shares of Cinemark in a report on Wednesday, April 10th. Wedbush raised their price target on Cinemark from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Barrington Research reissued an “outperform” rating and issued a $24.00 price target on shares of Cinemark in a report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.11.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction that occurred on 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 directly owns 179,591 shares in the company, valued at $3,008,149.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Cinemark Stock Performance

Shares of NYSE:CNK traded down $0.12 during trading on Wednesday, hitting $17.71. The stock had a trading volume of 2,039,147 shares, compared to its average volume of 3,101,588. Cinemark Holdings, Inc. has a 12-month low of $13.19 and a 12-month high of $20.40. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.11 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 stock has a 50-day simple moving average of $17.71 and a two-hundred day simple moving average of $15.85.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, February 16th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $638.90 million during the quarter, compared to analysts’ expectations of $619.67 million. Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.82) earnings per share. On average, equities research analysts expect that Cinemark Holdings, Inc. will post 0.85 earnings per share for the current fiscal year.

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.