BNP Paribas Financial Markets grew its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 1,532.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 650,227 shares of the company's stock after buying an additional 610,398 shares during the period. BNP Paribas Financial Markets owned 0.53% of Cinemark worth $18,102,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock valued at $56,000 after purchasing an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock valued at $68,000 after purchasing an additional 877 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Cinemark during the third quarter valued at approximately $77,000. 1620 Investment Advisors Inc. bought a new stake in Cinemark in the second quarter worth $79,000. Finally, CWM LLC boosted its holdings in Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after acquiring an additional 1,716 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on CNK shares. Barrington Research raised Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a report on Thursday, October 31st. The Goldman Sachs Group boosted their target price on Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a report on Thursday, September 19th. JPMorgan Chase & Co. boosted their target price on Cinemark from $25.00 to $29.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Morgan Stanley boosted their target price on Cinemark from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Finally, Wedbush cut Cinemark from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Cinemark has a consensus rating of "Moderate Buy" and a consensus price target of $31.10.
Read Our Latest Stock Analysis on Cinemark
Cinemark Stock Performance
Cinemark stock traded up $0.34 during mid-day trading on Friday, reaching $34.52. 1,883,296 shares of the stock traded hands, compared to its average volume of 2,685,810. The stock has a market capitalization of $4.22 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 1.73 and a beta of 2.35. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a 12-month low of $13.19 and a 12-month high of $34.99. The business's 50-day moving average is $29.89 and its 200-day moving average is $25.24.
Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. During the same quarter last year, the company earned $0.61 earnings per share. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.
Insider Transactions at Cinemark
In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the transaction, the insider now owns 179,729 shares in the company, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.30% of the company's stock.
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.
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