BNP Paribas Financial Markets Buys 610,398 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

BNP Paribas Financial Markets raised its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 1,532.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 650,227 shares of the company’s stock after purchasing an additional 610,398 shares during the period. BNP Paribas Financial Markets owned 0.53% of Cinemark worth $18,102,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares during the last quarter. USA Financial Formulas bought a new stake in Cinemark during the third quarter valued at about $77,000. CWM LLC boosted its holdings in Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after acquiring an additional 1,716 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cinemark in the second quarter worth about $79,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CNK. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday. B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a research note on Tuesday, August 27th. Wedbush lowered shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Macquarie boosted their price objective on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cinemark has an average rating of “Moderate Buy” and a consensus price target of $31.10.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now owns 179,729 shares of the company’s stock, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Cinemark Price Performance

Shares of Cinemark stock opened at $34.52 on Friday. Cinemark Holdings, Inc. has a twelve month low of $13.19 and a twelve month high of $34.99. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The firm has a market cap of $4.22 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 1.71 and a beta of 2.35. The firm’s 50-day simple moving average is $29.89 and its 200-day simple moving average is $25.24.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.61. The company had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. As a group, research analysts expect that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.