Principal Financial Group Inc. Increases Stock Position in Cinemark Holdings, Inc. (NYSE:CNK)

Principal Financial Group Inc. increased its position in Cinemark Holdings, Inc. (NYSE:CNK) by 14.0% in the first quarter, Holdings Channel.com reports. The fund owned 674,455 shares of the company’s stock after purchasing an additional 82,777 shares during the period. Principal Financial Group Inc.’s holdings in Cinemark were worth $13,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNK. Marshall Wace LLP purchased a new stake in Cinemark during the 1st quarter valued at $65,000. Amundi Pioneer Asset Management Inc. raised its stake in Cinemark by 5.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 122,899 shares of the company’s stock valued at $4,915,000 after buying an additional 6,112 shares during the last quarter. Creative Planning purchased a new stake in Cinemark during the 4th quarter valued at $221,000. Russell Investments Group Ltd. raised its stake in Cinemark by 9.8% during the 4th quarter. Russell Investments Group Ltd. now owns 308,757 shares of the company’s stock valued at $5,375,000 after buying an additional 27,493 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Cinemark by 89.0% during the 4th quarter. Sei Investments Co. now owns 122,605 shares of the company’s stock valued at $2,135,000 after buying an additional 57,738 shares during the last quarter. Institutional investors and hedge funds own 88.84% of the company’s stock.

A number of brokerages have weighed in on CNK. Barrington Research boosted their target price on shares of Cinemark from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, March 3rd. Wedbush reiterated a “buy” rating on shares of Cinemark in a research note on Wednesday, February 24th. Morgan Stanley boosted their price objective on shares of Cinemark from $17.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, April 19th. The Goldman Sachs Group downgraded shares of Cinemark from a “neutral” rating to a “sell” rating and cut their price objective for the company from $21.00 to $19.00 in a research report on Wednesday, June 2nd. Finally, Benchmark boosted their price objective on shares of Cinemark from $21.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Cinemark presently has a consensus rating of “Hold” and a consensus target price of $22.42.

Shares of Cinemark stock opened at $22.24 on Friday. The company has a market cap of $2.66 billion, a P/E ratio of -3.43 and a beta of 2.57. The company has a debt-to-equity ratio of 4.94, a current ratio of 1.27 and a quick ratio of 1.25. The business has a fifty day moving average price of $22.17. Cinemark Holdings, Inc. has a fifty-two week low of $7.56 and a fifty-two week high of $27.84.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, May 6th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($1.46) by ($0.29). The firm had revenue of $114.40 million during the quarter, compared to the consensus estimate of $98.06 million. Cinemark had a negative return on equity of 87.21% and a negative net margin of 297.79%. The company’s quarterly revenue was down 79.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) EPS. As a group, analysts anticipate that Cinemark Holdings, Inc. will post -3.49 earnings per share for the current fiscal year.

Cinemark Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of March 4, 2021, it operated 531 theatres with 5,958 screens in the United States, Brazil, Argentina, Chile, Colombia, Ecuador, Peru, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Institutional Ownership by Quarter for Cinemark (NYSE:CNK)

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