Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Cinemark Holdings, Inc. (NYSE:CNKFree Report) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 615,779 shares of the company’s stock after selling 31,004 shares during the quarter. Principal Financial Group Inc. owned 0.51% of Cinemark worth $10,160,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Orbis Allan Gray Ltd lifted its holdings in Cinemark by 31.2% in the first quarter. Orbis Allan Gray Ltd now owns 11,534,006 shares of the company’s stock valued at $170,588,000 after acquiring an additional 2,743,262 shares during the period. Victory Capital Management Inc. lifted its holdings in Cinemark by 73.6% in the first quarter. Victory Capital Management Inc. now owns 3,203,591 shares of the company’s stock valued at $47,381,000 after acquiring an additional 1,358,233 shares during the period. Norges Bank acquired a new stake in Cinemark in the fourth quarter valued at $8,659,000. Renaissance Technologies LLC lifted its holdings in Cinemark by 241.0% in the first quarter. Renaissance Technologies LLC now owns 1,334,400 shares of the company’s stock valued at $23,058,000 after acquiring an additional 943,100 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in Cinemark by 26.1% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,870,000 shares of the company’s stock valued at $57,237,000 after acquiring an additional 800,000 shares during the period.

Cinemark Trading Down 1.7 %

Cinemark stock opened at $14.16 on Tuesday. The stock has a market cap of $1.72 billion, a PE ratio of 25.29, a P/E/G ratio of 1.03 and a beta of 2.28. The stock has a 50-day moving average price of $16.63 and a 200 day moving average price of $16.68. Cinemark Holdings, Inc. has a 52 week low of $8.28 and a 52 week high of $19.85. The company has a current ratio of 1.55, a quick ratio of 1.51 and a debt-to-equity ratio of 7.36.

Cinemark (NYSE:CNKGet Free Report) last posted its quarterly earnings results on Friday, November 3rd. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.41 by $0.20. The company had revenue of $874.80 million during the quarter, compared to analysts’ expectations of $845.61 million. Cinemark had a return on equity of 51.32% and a net margin of 3.53%. The firm’s revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.20) EPS. Equities research analysts predict that Cinemark Holdings, Inc. will post 1.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on CNK. Wells Fargo & Company reduced their target price on Cinemark from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, October 24th. Morgan Stanley raised their price target on Cinemark from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Barrington Research restated an “outperform” rating and issued a $22.00 price target (up previously from $20.00) on shares of Cinemark in a research report on Monday, August 7th. StockNews.com started coverage on Cinemark in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Benchmark raised their price target on Cinemark from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.39.

Read Our Latest Research Report 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.

Further Reading

Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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