BNP Paribas Financial Markets lowered its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 37.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,431 shares of the company's stock after selling 195,445 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.27% of Cinemark worth $4,599,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. First Dallas Securities Inc. lifted its position in shares of Cinemark by 2,363.4% in the third quarter. First Dallas Securities Inc. now owns 511,152 shares of the company's stock worth $9,380,000 after buying an additional 490,402 shares during the last quarter. Jump Financial LLC boosted its position in Cinemark by 2,874.3% during the third quarter. Jump Financial LLC now owns 313,642 shares of the company's stock worth $5,755,000 after purchasing an additional 303,097 shares during the period. Peconic Partners LLC acquired a new position in Cinemark in the 3rd quarter valued at $5,505,000. Wellington Management Group LLP increased its stake in shares of Cinemark by 1.7% in the third quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company's stock worth $248,646,000 after purchasing an additional 232,619 shares during the period. Finally, Point Break Capital Management LLC acquired a new stake in Cinemark in the 3rd quarter valued at approximately $4,042,000.
Insiders Place Their Bets
In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the transaction, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.30% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on CNK shares. Wedbush reiterated an "outperform" rating and set a $23.00 price target on shares of Cinemark in a report on Thursday, April 25th. Wells Fargo & Company upgraded shares of Cinemark from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $13.00 to $23.00 in a research report on Friday, April 5th. Benchmark reaffirmed a "buy" rating and set a $23.00 price objective on shares of Cinemark in a research report on Friday, May 3rd. Barrington Research restated an "outperform" rating and set a $24.00 price target on shares of Cinemark in a research note on Monday, May 6th. Finally, StockNews.com upgraded Cinemark from a "sell" rating to a "hold" rating in a research report on Saturday, May 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $20.33.
Read Our Latest Stock Report on Cinemark
Cinemark Price Performance
CNK stock traded down $0.20 during trading on Tuesday, hitting $17.48. The company had a trading volume of 2,552,994 shares, compared to its average volume of 3,069,885. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The company has a fifty day moving average price of $18.03 and a two-hundred day moving average price of $15.98. Cinemark Holdings, Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $20.40. The company has a market cap of $2.14 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.58 and a beta of 2.25.
Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.40. The firm had revenue of $579.00 million during the quarter, compared to analysts' expectations of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business's revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS. Equities research analysts expect that Cinemark Holdings, Inc. will post 1.12 earnings per share for the current fiscal year.
About Cinemark
(Free Report)
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.
See Also
- Five stocks we like better than Cinemark
- P/E Ratio Calculation: How to Assess Stocks
- AutoZone Pulling Back Into the Buy Zone
- What Are Dividends? Buy the Best Dividend Stocks
- How to Invest in NASDAQ: An Easy-to-Follow Guide
- Where Do I Find 52-Week Highs and Lows?
- Buy the Dip in Palo Alto Networks; Analysts Raise Targets
→ Elon to Transform U.S. Economy? (From Porter & Company) (Ad)
Should you invest $1,000 in Cinemark right now?
Before you consider Cinemark, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cinemark wasn't on the list.
While Cinemark currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The 10 Best AI Stocks to Own in 2024
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
