520,448 Shares in Cinemark Holdings, Inc. (NYSE:CNK) Acquired by Norges Bank

Norges Bank bought a new position in shares of Cinemark Holdings, Inc. (NYSE:CNKFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 520,448 shares of the company’s stock, valued at approximately $7,333,000. Norges Bank owned 0.43% of Cinemark at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNK. New York State Common Retirement Fund increased its holdings in Cinemark by 48.5% during the 3rd quarter. New York State Common Retirement Fund now owns 66,920 shares of the company’s stock worth $1,228,000 after acquiring an additional 21,857 shares during the period. Swiss National Bank increased its holdings in Cinemark by 1.0% during the 3rd quarter. Swiss National Bank now owns 240,600 shares of the company’s stock worth $4,415,000 after acquiring an additional 2,300 shares during the period. Burney Co. bought a new stake in Cinemark during the 3rd quarter worth approximately $1,518,000. Campbell & CO Investment Adviser LLC increased its holdings in Cinemark by 40.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 85,343 shares of the company’s stock worth $1,566,000 after acquiring an additional 24,436 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Cinemark by 123.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 275,500 shares of the company’s stock worth $5,055,000 after buying an additional 152,000 shares during the last quarter.

Cinemark Trading Up 2.5 %

Shares of CNK opened at $16.89 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of 11.64, a PEG ratio of 1.52 and a beta of 2.27. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The firm has a fifty day simple moving average of $17.80 and a two-hundred day simple moving average of $16.18. Cinemark Holdings, Inc. has a twelve month low of $13.19 and a twelve month high of $20.40.

Cinemark (NYSE:CNKGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.40. The business had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) EPS. On average, research analysts anticipate that Cinemark Holdings, Inc. will post 1.1 EPS for the current year.

Analyst Upgrades and Downgrades

CNK has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $13.00 to $23.00 in a report on Friday, April 5th. Roth Mkm increased their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Barrington Research reissued an “outperform” rating and issued a $24.00 price target on shares of Cinemark in a report on Monday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.33.

View Our Latest Stock Report on Cinemark

Cinemark Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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