Wellington Management Co. LLP has recently announced that it has increased stake in Cinemark Holdings Inc (NYSE:CNK) by 1.75%. After grabbing 13.55 million shares, the institutional investor is now in possession of 0.23 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 11.14% having worth around $193.09 million. Moreover, The Vanguard Group, Inc. increased its share by 0.21 million to have a control over 13.54 million shares. And Marshall Wace LLP raised its holdings to 1.34 million shares by acquiring 5.33 million shares or 4.38% of the stake.
Cinemark Holdings Inc (CNK) concluded trading on 01/10/24 at a closing price of $13.84, with 3.08 million shares of worth about $42.64 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -14.36% during that period and on Wednesday the price saw a gain of about 1.32%. Currently the company’s common shares owned by public are about 120.40M shares, out of which, 108.68M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the CNK stock and their offered price forecasts bring an average price target of $18.09. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $24.00 and could fall to a lowest price of $12.00. The stock’s current price level is 23.49% above of average price target set by the analysts, while a rise to estimated low would result in loss of -15.33% for the stock. However, touching the estimated high of $24.00 would mean a gain of 42.33% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 49 times over the past 12 months. They bought 899,712 shares in 22 of the transactions. In 27 selling transactions, insiders dumped 117,986 shares.
iShares Core S&P Small Cap ETF, GBM 106 SA de CV SIRV, and Vanguard Explorer Fund are the top 3 mutual funds which are holding stakes in Cinemark Holdings Inc iShares Core S&P Small Cap ETF is currently holding 7.25 million shares of worth totaling $103.24 million. The company recently came buying 3774.0 shares which brought its stake up to 5.96% of the company’s outstanding shares. Vanguard Explorer Fund, after selling 4.34 million shares, have now control over 3.57% of the stake in the company. It holds 64220.0 shares of worth $61.89 million.
Cinemark Holdings Inc (NYSE: CNK) started trading at $13.62, below -$0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 13.90, or with a gain of 1.32%. Stock saw a price change of -0.72% in past 5 days and over the past one month there was a price change of -5.91%. Year-to-date (YTD), CNK shares are showing a performance of -1.77% which increased to 57.45% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.69 but also hit the highest price of $19.85 during that period. The average intraday trading volume for Cinemark Holdings Inc shares is 3.03 million. The stock is currently trading -3.82% below its 20-day simple moving average (SMA20), while that difference is down -5.80% for SMA50 and it goes to -14.37% lower than SMA200.
Wellington Management Co. LLP acquired 13.55 million shares of Cinemark Holdings Inc having value of about $193.09 million. Data submitted at the U.S SEC by Wellington Management Co. LLP revealed that the firm now holds 0.23 million shares in the company valued at close to $3219446.96, or have control over 1.75% stake in the company. Cinemark Holdings Inc (NYSE: CNK) currently have 120.40M outstanding shares and institutions hold larger chunk of about 109.53% of that. Holding of mutual funds in the company is about 51.95% while other institutional holders and individual stake holders have control over 57.75% and 25.58% of the stake respectively.
The stock has a current market capitalization of $1.68B and its 3Y-monthly beta is at 2.23. PE ratio of stock for trailing 12 months is 24.78, while it has posted earnings per share of $0.56 in the same period. Its PEG reads 2.48 and has Quick Ratio of 1.51 while making debt-to-equity ratio of 11.04. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CNK, volatility over the week remained 2.45% while standing at 3.53% over the month.
Analysts are in expectations that Cinemark Holdings Inc (CNK) stock would likely to be making an EPS of -$0.13 in the current quarter, while forecast for next quarter EPS is -$0.01 and it is $0.94 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.8 which is $0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.82 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 162.58% while it is estimated to decrease by -39.00% in next year.
Analysts at 11 brokerage firms have issued recommendations for the Cinemark Holdings Inc (CNK)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.45. Out of those 11 Wall Street analysts, 5 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by B. Riley Securities on January 02, 2024 offering a Neutral rating for the stock and assigned a target price range of between $23 and $15 to it.
