Wedge Capital Management L L P NC acquired a new stake in shares of Cinemark Holdings, Inc. (NYSE:CNK – Get Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,269 shares of the company's stock, valued at approximately $154,000.
Other large investors also recently added to or reduced their stakes in the company. Comerica Bank boosted its stake in Cinemark by 1.1% during the first quarter. Comerica Bank now owns 92,602 shares of the company's stock valued at $1,572,000 after buying an additional 1,043 shares during the period. Raymond James & Associates bought a new stake in Cinemark during the fourth quarter worth about $167,000. Mutual of America Capital Management LLC lifted its stake in Cinemark by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 15,341 shares of the company's stock worth $265,000 after purchasing an additional 795 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in Cinemark during the fourth quarter worth about $18,155,000. Finally, Renaissance Technologies LLC lifted its stake in Cinemark by 448.8% during the fourth quarter. Renaissance Technologies LLC now owns 391,300 shares of the company's stock worth $6,308,000 after purchasing an additional 320,000 shares during the last quarter. Institutional investors own 96.54% of the company's stock.
Get Cinemark alerts:Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on CNK shares. Wells Fargo & Company dropped their price target on Cinemark from $22.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, August 8th. B. Riley dropped their price target on Cinemark from $29.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, June 21st. StockNews.com raised Cinemark from a "sell" rating to a "hold" rating in a research note on Monday, August 8th. Wedbush reaffirmed an "outperform" rating and set a $22.00 price target on shares of Cinemark in a research note on Tuesday, August 2nd. Finally, Morgan Stanley raised Cinemark from an "equal weight" rating to an "overweight" rating and set a $22.00 target price for the company in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $21.58.
Cinemark Trading Down 3.8 %
NYSE CNK opened at $12.57 on Thursday. Cinemark Holdings, Inc. has a 1-year low of $12.56 and a 1-year high of $23.15. The company has a current ratio of 1.20, a quick ratio of 1.17 and a debt-to-equity ratio of 11.75. The stock has a 50-day moving average of $16.11 and a 200-day moving average of $16.01. The firm has a market cap of $1.52 billion, a PE ratio of -6.87 and a beta of 2.18.Cinemark (NYSE:CNK – Get Rating) last announced its quarterly earnings results on Friday, August 5th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.83). Cinemark had a negative net margin of 9.52% and a negative return on equity of 43.57%. The business had revenue of $744.10 million for the quarter, compared to analysts' expectations of $733.88 million. During the same quarter in the prior year, the firm earned ($1.19) EPS. The firm's revenue for the quarter was up 152.6% on a year-over-year basis. As a group, sell-side analysts forecast that Cinemark Holdings, Inc. will post -1.35 EPS for the current year.
About Cinemark
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Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.
Further Reading
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