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

Principal Financial Group Inc. increased its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 18.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 629,782 shares of the company's stock after acquiring an additional 99,843 shares during the period. Principal Financial Group Inc. owned approximately 0.51% of Cinemark worth $17,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNK. Sei Investments Co. boosted its position in Cinemark by 38.1% in the first quarter. Sei Investments Co. now owns 115,124 shares of the company's stock valued at $2,069,000 after buying an additional 31,739 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in shares of Cinemark in the first quarter worth $2,274,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Cinemark by 18.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company's stock worth $14,629,000 after purchasing an additional 103,875 shares during the last quarter. US Bancorp DE lifted its position in Cinemark by 68.8% during the first quarter. US Bancorp DE now owns 34,846 shares of the company's stock valued at $626,000 after purchasing an additional 14,200 shares during the period. Finally, Maverick Capital Ltd. purchased a new stake in Cinemark in the second quarter valued at $2,253,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNK shares. Wedbush cut Cinemark from a "strong-buy" rating to a "hold" rating in a report on Friday, November 1st. Roth Mkm lifted their price target on Cinemark from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Macquarie upped their price objective on Cinemark from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Cinemark from $31.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Finally, B. Riley lowered shares of Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price target on the stock. in a research report on Tuesday, August 27th. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.80.

Insider Buying and Selling

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Cinemark Stock Up 0.7 %

Shares of Cinemark stock traded up $0.22 during trading hours on Friday, hitting $32.20. The company had a trading volume of 754,988 shares, compared to its average volume of 2,832,933. 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 twelve month low of $13.19 and a twelve month high of $33.11. The company has a market cap of $3.94 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.59 and a beta of 2.35. The company's 50-day moving average is $28.80 and its two-hundred day moving average is $23.94.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.61. The firm had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. Analysts anticipate that Cinemark Holdings, Inc. will post 2 earnings per share for the current fiscal year.

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.