Wellington Management Co. LLP recently announced the acquisition of new stake in Cinemark Holdings Inc. (NYSE:CNK). The institutional investor has increased its shareholding in the Communication Services company by 0.98% to 13.27 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 11.02% valued currently at $224.06 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.18 million to 12.32 million shares. And Orbis Investment Management Ltd. has lifted its position by 50.12% or 2.94 million shares – to 8.79 million shares.
With over 1.62 million Cinemark Holdings Inc. (CNK) shares trading Monday and a closing price of $16.96 on the day, the dollar volume was approximately $27.43 million. The shares have shown a positive half year performance of 33.23% and its price on 05/22/23 gained nearly 0.65%. Currently, there are 118.80M common shares owned by the public and among those 108.30M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for CNK have a consensus price objective of $18.63. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $12.50. The average price target is 7.88% above its recent price level and a downside to the estimated low will see the stock lose -35.68% over that period. But an upside of 22.91% will see the stock hit the forecast high price target while median target price for the stock is $19.50.
Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 904,563 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 164,787 shares.
The top 3 mutual fund holders in Cinemark Holdings Inc. are iShares Core S&P Small Cap ETF, GBM 106 SA de CV SIRV, and Vanguard Explorer Fund. iShares Core S&P Small Cap ETF owns 7.76 million shares of the company’s stock, all valued at over $131.01 million. The company sold 10965.0 shares recently to bring their total holdings to about 6.45% of the shares outstanding. Vanguard Explorer Fund bought 93545.0 shares to bring its total holdings to over 4.17 million shares at a value of $70.45 million. Vanguard Explorer Fund now owns shares totaling to 3.47% of the shares outstanding.
Shares of Cinemark Holdings Inc. (NYSE: CNK) opened at $16.98, up $0.13 from a prior closing price of $16.85. However, the script later moved the day high at 17.15, up 0.65%. The company’s stock has a 5-day price change of 0.12% and 35.90% over the past three months. CNK shares are trading 95.84% year to date (YTD), with the 12-month market performance up to 5.21% higher. It has a 12-month low price of $8.28 and touched a high of $19.76 over the same period. CNK has an average intraday trading volume of 2.78 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.97%, 10.35%, and 29.44% respectively.
Institutional ownership of Cinemark Holdings Inc. (NYSE: CNK) shares accounts for 106.92% of the company’s 118.80M shares outstanding. Mutual fund holders own 52.32%, while other institutional holders and individual stakeholders account for 55.50% and 25.72% respectively.
It has a market capitalization of $2.08B and a beta (3y monthly) value of 2.30. The earnings-per-share (ttm) stands at -$1.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.27% over the week and 3.87% over the month.
Analysts forecast that Cinemark Holdings Inc. (CNK) will achieve an EPS of $0.52 for the current quarter, $0.24 for the next quarter and $1.29 for 2024. The lowest estimate earnings-per-share for the quarter is $0.14 while analysts give the company a high EPS estimate of $0.85. Comparatively, EPS for the current quarter was -$0.61 a year ago. Earnings per share for the fiscal year are expected to increase by 36.30%, and 58.31% over the next financial year. EPS should grow at an annualized rate of 10.00% over the next five years, compared to -26.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Cinemark Holdings Inc. (CNK) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 4 of the 12 advise that investors “hold,” and 1 rated it as a “Sell.”
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