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

Norges Bank acquired a new position in shares of Cinemark Holdings, Inc. (NYSE:CNKFree Report) in the 4th quarter, Holdings Channel.com reports. The fund acquired 520,448 shares of the company’s stock, valued at approximately $7,333,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NBC Securities Inc. boosted its stake in shares of Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Cinemark during the third quarter valued at $193,000. Mackenzie Financial Corp purchased a new stake in shares of Cinemark during the fourth quarter valued at $210,000. Watershed Asset Management L.L.C. boosted its stake in shares of Cinemark by 6.2% during the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after purchasing an additional 915 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of Cinemark during the third quarter valued at $222,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNK. Wedbush reissued an “outperform” rating and set a $23.00 target price on shares of Cinemark in a research note on Thursday, April 25th. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $13.00 to $23.00 in a research note on Friday, April 5th. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, May 30th. B. Riley upped their price objective on shares of Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.33.

Check Out Our Latest Report on Cinemark

Cinemark Price Performance

NYSE CNK opened at $16.89 on Friday. The firm’s fifty day simple moving average is $17.80 and its two-hundred day simple moving average is $16.18. The firm has a market capitalization of $2.07 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.52 and a beta of 2.27. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. Cinemark Holdings, Inc. has a 12-month low of $13.19 and a 12-month high of $20.40.

Cinemark (NYSE:CNKGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same period in the previous year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts forecast that Cinemark Holdings, Inc. will post 1.1 EPS for the current fiscal year.

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

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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