Optimist Retirement Group LLC Invests $257,000 in Cinemark Holdings, Inc. (NYSE:CNK)

Optimist Retirement Group LLC acquired a new stake in Cinemark Holdings, Inc. (NYSE:CNK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,300 shares of the company’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its position in shares of Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 1,308 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 acquiring an additional 1,040 shares during the last quarter. R Squared Ltd acquired a new position in Cinemark during the fourth quarter worth about $63,000. USA Financial Formulas acquired a new position in Cinemark during the third quarter worth about $77,000. Finally, CWM LLC lifted its holdings in shares of Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CNK. Morgan Stanley raised their price objective on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Roth Mkm raised their price target on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on Cinemark from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Wells Fargo & Company dropped their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Macquarie upped their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Cinemark Trading Up 3.6 %

NYSE CNK opened at $30.52 on Thursday. The company has a market cap of $3.73 billion, a P/E ratio of 19.69 and a beta of 2.38. Cinemark Holdings, Inc. has a 12 month low of $13.45 and a 12 month high of $36.28. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The company has a 50-day moving average of $31.12 and a 200-day moving average of $29.13.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the transaction, the insider now owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by insiders.

Cinemark Company 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.