BlackRock Fund Advisors 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 0.10% to 11.1 million shares with purchase of 11492.0 shares. This fresh investment now brings its stake to 9.44% valued currently at $131.31 million. In addition, Renaissance Technologies LLC raised its holdings by 3.43 million to 8.44 million shares. And Wellington Management Co. LLP has lifted its position by 9.25% or 0.65 million shares – to 7.66 million shares.
With over 7.24 million Cinemark Holdings Inc. (CNK) shares trading Monday and a closing price of $14.65 on the day, the dollar volume was approximately $106.04 million. The shares have shown a positive weekly performance of 7.33% and its price on 08/31/20 lost nearly -4.00%. Currently, there are 116.67M common shares owned by the public and among those 98.05M shares have been available to trade.
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 $16.25. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Cinemark Holdings Inc. stock is 2.30 for the next 12 months. The average price target is 9.85% above its last price level and an upside to the estimated low will see the stock lose -22.08% over that period. But an upside of 26.75% will see the stock hit the forecast high price target while mean target price for the stock is $16.50.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 750,697 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 90,587 shares.
The top 3 mutual fund holders in Cinemark Holdings Inc. are Vanguard Explorer Fund, Vanguard Total Stock Market Index, and iShares Core S&P Mid Cap ETF. Vanguard Explorer Fund owns 4.19 million shares of the company’s stock, all valued at over $49.57 million. The company sold -0.4 million shares recently to bring their total holdings to about 3.56% of the shares outstanding. Vanguard Total Stock Market Index sold 2594.0 shares to see its total holdings shrink to 2.87 million shares valued at over $33.92 million and representing 2.44% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 5463.0 shares to bring its total holdings to over 2.85 million shares at a value of $33.77 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.43% of the shares outstanding.
Shares of Cinemark Holdings Inc. (NYSE: CNK) opened at $15.53, up $0.27 from a prior closing price of $15.26. However, the script later closed the day at $14.65, down -4.00%. The company’s stock has a 5-day price change of 7.33% and -8.15% over the past three months. CNK shares are trading -56.72% year to date (YTD), with the 12-month market performance down to -61.61% lower. It has a 12-month low price of $5.71 and touched a high of $39.81 over the same period. Currently, 7.24 million shares have been traded, compared to an average intraday trading volume of 5.98 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 19.26%, 17.04%, and -28.48% respectively.
Institutional ownership of Cinemark Holdings Inc. (NYSE: CNK) shares accounts for 86.00% of the company’s 116.67M shares outstanding. Mutual fund holders own 42.15%, while other institutional holders and individual stakeholders account for 42.79% and 25.22% respectively.
It has a market capitalization of $1.61B and a beta (3y monthly) value of 1.84. The earnings-per-share (ttm) stands at -$1.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.23% over the week and 8.46% over the month.
Analysts forecast that Cinemark Holdings Inc. (CNK) will achieve an EPS of -$1.19 for the current quarter, -$0.64 for the next quarter and -$0.32 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.47 while analysts give the company a high EPS estimate of -$0.54. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to decrease by -18.10%, and 91.60% over the next financial year. EPS should shrink at an annualized rate of -6.37% over the next five years, compared to -0.40% 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, 6 Wall Street analysts polled rate the stock as a buy, while 6 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CNK, a number of firms have released research notes about the stock. The Benchmark Company stated their Buy rating for the stock in a research note on August 20, 2020, with the firm’s price target at $18. Goldman coverage for the Cinemark Holdings Inc. (CNK) stock in a research note released on July 15, 2020 offered a Neutral rating with a price target of $12. Credit Suisse was of a view on June 29, 2020 that the stock is Neutral, while B. Riley FBR gave the stock Neutral rating on May 18, 2020, issuing a price target of $16- $13. Macquarie on their part issued Outperform rating on April 23, 2020.