Eagle Asset Management Inc. reduced its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 12.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,634,673 shares of the company’s stock after selling 364,082 shares during the quarter. Eagle Asset Management Inc. owned approximately 2.26% of Cinemark worth $105,913,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of CNK. Bruderman Asset Management LLC lifted its holdings in Cinemark by 76.6% in the 2nd quarter. Bruderman Asset Management LLC now owns 4,000 shares of the company’s stock worth $140,000 after purchasing an additional 1,735 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Cinemark in the 3rd quarter worth approximately $168,000. Stratos Wealth Partners LTD. acquired a new stake in Cinemark in the 3rd quarter worth approximately $171,000. BB&T Corp acquired a new stake in Cinemark in the 3rd quarter worth approximately $225,000. Finally, Itau Unibanco Holding S.A. lifted its holdings in Cinemark by 413.6% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 6,898 shares of the company’s stock worth $242,000 after purchasing an additional 5,555 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.
A number of brokerages have recently commented on CNK. B. Riley reiterated a “buy” rating on shares of Cinemark in a report on Monday, August 6th. Barrington Research reiterated a “buy” rating and set a $47.00 price target on shares of Cinemark in a report on Monday, August 13th. MKM Partners upped their price target on Cinemark to $47.00 and gave the stock a “buy” rating in a report on Wednesday, October 24th. Wedbush set a $43.00 price target on Cinemark and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, Morgan Stanley cut their price target on Cinemark from $42.00 to $39.00 and set a “$34.56” rating for the company in a report on Monday, July 23rd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $43.70.
Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, November 2nd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. Cinemark had a return on equity of 19.92% and a net margin of 9.12%. The company had revenue of $754.20 million during the quarter, compared to analyst estimates of $730.27 million. During the same period in the previous year, the company earned $0.33 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Cinemark Holdings, Inc. will post 2.05 earnings per share for the current fiscal year.
In other news, CFO Sean Gamble sold 7,468 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $40.90, for a total transaction of $305,441.20. Following the sale, the chief financial officer now directly owns 92,673 shares in the company, valued at $3,790,325.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.90% of the company’s stock.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of June 30, 2018, the company operated 539 theatres and 5,998 screens.
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