Eagle Asset Management Inc. lowered its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,219,794 shares of the company’s stock after selling 175,923 shares during the period. Eagle Asset Management Inc. owned about 2.75% of Cinemark worth $124,412,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Front Barnett Associates LLC raised its position in shares of Cinemark by 1.8% in the third quarter. Front Barnett Associates LLC now owns 347,599 shares of the company’s stock valued at $13,431,000 after buying an additional 6,245 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Cinemark by 32.6% in the third quarter. SG Americas Securities LLC now owns 11,512 shares of the company’s stock valued at $445,000 after buying an additional 2,832 shares during the last quarter. Alpine Woods Capital Investors LLC raised its position in shares of Cinemark by 0.8% in the third quarter. Alpine Woods Capital Investors LLC now owns 36,420 shares of the company’s stock valued at $1,407,000 after buying an additional 300 shares during the last quarter. ARP Americas LP raised its position in shares of Cinemark by 45.3% in the third quarter. ARP Americas LP now owns 56,743 shares of the company’s stock valued at $2,193,000 after buying an additional 17,700 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Cinemark by 525.5% in the third quarter. Russell Investments Group Ltd. now owns 121,603 shares of the company’s stock valued at $4,700,000 after buying an additional 102,163 shares during the last quarter. 99.60% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the stock. MKM Partners cut their price objective on shares of Cinemark from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Morgan Stanley cut their price objective on shares of Cinemark from $41.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 23rd. Barrington Research reissued a “buy” rating and issued a $49.00 price objective on shares of Cinemark in a research report on Tuesday. Wedbush restated a “buy” rating and issued a $45.00 target price on shares of Cinemark in a report on Tuesday. Finally, Credit Suisse Group initiated coverage on shares of Cinemark in a report on Friday, July 19th. They issued an “outperform” rating and a $43.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $43.60.
Cinemark stock traded up $0.33 during trading on Friday, reaching $36.31. The company had a trading volume of 967,939 shares, compared to its average volume of 1,108,788. Cinemark Holdings, Inc. has a 12-month low of $34.49 and a 12-month high of $43.51. The stock’s 50 day moving average price is $37.09 and its two-hundred day moving average price is $38.24. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.06 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.92 and a current ratio of 0.95.
Cinemark (NYSE:CNK) last released its earnings results on Tuesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.23). Cinemark had a net margin of 5.60% and a return on equity of 14.25%. The company had revenue of $821.82 million during the quarter, compared to analysts’ expectations of $807.69 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Cinemark’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts expect that Cinemark Holdings, Inc. will post 2.27 earnings per share for the current year.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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