(Ticker Report) – Comerica Bank grew its holdings in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission.
The firm owned 66,034 shares of the company’s stock after purchasing an additional 3,964 shares during the quarter. Comerica Bank owned approximately 0.06% of Cinemark worth $835,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. ArrowMark Colorado Holdings LLC lifted its position in Cinemark by 43.0% during the first quarter. ArrowMark Colorado Holdings LLC now owns 8,205,177 shares of the company’s stock worth $83,611,000 after buying an additional 2,466,425 shares during the period.
JPMorgan Chase & Co. boosted its position in shares of Cinemark by 4.7% in the first quarter. JPMorgan Chase & Co. now owns 4,382,998 shares of the company’s stock worth $44,663,000 after acquiring an additional 198,234 shares during the last quarter. State Street Corp grew its holdings in Cinemark by 2.2% in the first quarter. State Street Corp now owns 2,741,422 shares of the company’s stock valued at $27,935,000 after purchasing an additional 58,085 shares during the period. Deutsche Bank AG grew its holdings in Cinemark by 1,174.5% in the first quarter.
Deutsche Bank AG now owns 2,516,669 shares of the company’s stock valued at $25,643,000 after purchasing an additional 2,319,210 shares during the period. Finally, Geode Capital Management LLC increased its position in Cinemark by 8.1% during the first quarter. Geode Capital Management LLC now owns 1,411,944 shares of the company’s stock worth $14,454,000 after purchasing an additional 105,850 shares during the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.
CNK has been the subject of a number of research analyst reports. Goldman Sachs Group assumed coverage on Cinemark in a report on Wednesday, July 15th. They set a “neutral” rating and a $12.00 price objective for the company. Zacks Investment Research upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Wednesday, July 29th. B. Riley reiterated a “hold” rating and set a $16.00 target price on shares of Cinemark in a report on Friday, June 26th.
Morgan Stanley cut their price target on shares of Cinemark from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, August 3rd. Finally, Imperial Capital decreased their price objective on shares of Cinemark from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, June 19th.
Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Cinemark has a consensus rating of “Buy” and a consensus target price of $19.54.
Shares of Cinemark stock opened at $13.65 on Tuesday. Cinemark Holdings, Inc. has a 1-year low of $5.71 and a 1-year high of $39.81. The company has a market capitalization of $1.46 billion, a PE ratio of -9.29 and a beta of 1.74. The company has a debt-to-equity ratio of 3.11, a current ratio of 1.25 and a quick ratio of 1.22. The business has a 50-day moving average of $12.27 and a 200-day moving average of $15.68.
Cinemark (NYSE:CNK) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($1.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.46) by $0.01. The firm had revenue of $8.97 million during the quarter, compared to analyst estimates of $7.24 million. Cinemark had a negative return on equity of 9.76% and a negative net margin of 7.96%. Cinemark’s quarterly revenue was down 99.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. On average, equities analysts expect that Cinemark Holdings, Inc. will post -3.78 earnings per share for the current fiscal year.
About Cinemark
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
