Alliancebernstein L.P. trimmed its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,131 shares of the company’s stock after selling 3,351 shares during the period. Alliancebernstein L.P. owned about 0.21% of Cinemark worth $5,534,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in shares of Cinemark during the first quarter valued at $65,000. Harvest Fund Management Co. Ltd purchased a new stake in Cinemark in the 1st quarter worth about $36,000. Eaton Vance Management purchased a new stake in Cinemark in the 1st quarter worth about $96,000. Focused Wealth Management Inc purchased a new stake in Cinemark in the 1st quarter worth about $102,000. Finally, Centaurus Financial Inc. purchased a new stake in Cinemark in the 1st quarter worth about $113,000. 74.78% of the stock is owned by institutional investors and hedge funds.
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Shares of NYSE CNK opened at $17.14 on Friday. The company has a debt-to-equity ratio of 6.51, a quick ratio of 1.08 and a current ratio of 1.10. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -2.76 and a beta of 2.54. The firm’s 50-day moving average is $17.60. Cinemark Holdings, Inc. has a 52 week low of $7.56 and a 52 week high of $27.84.
Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, August 5th. The company reported ($1.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.13) by ($0.06). The company had revenue of $294.70 million for the quarter, compared to analyst estimates of $260.98 million. Cinemark had a negative net margin of 135.90% and a negative return on equity of 107.71%. The business’s revenue was up 3174.4% on a year-over-year basis. During the same period in the prior year, the company posted ($1.45) EPS. As a group, analysts predict that Cinemark Holdings, Inc. will post -3.7 earnings per share for the current year.
Several brokerages recently issued reports on CNK. The Goldman Sachs Group downgraded Cinemark from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $21.00 to $19.00 in a research note on Wednesday, June 2nd. Zacks Investment Research raised Cinemark from a “sell” rating to a “hold” rating in a research note on Thursday, July 22nd. Finally, Morgan Stanley cut their price target on Cinemark from $25.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, July 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Cinemark has an average rating of “Hold” and an average price target of $23.22.
Cinemark Holdings, Inc is a holding company, which engages in the provision of motion picture exhibition through its subsidiaries. It operates through the U.S. and International segments. The company was founded by Lee Roy Mitchell in 1984 and is headquartered in Plano, TX.
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