First Hawaiian Bank decreased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 10.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,815 shares of the company’s stock after selling 3,615 shares during the period. First Hawaiian Bank’s holdings in Cinemark were worth $1,232,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in CNK. JPMorgan Chase & Co. raised its position in Cinemark by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 4,381,965 shares of the company’s stock valued at $176,155,000 after purchasing an additional 205,898 shares during the period. Bank of New York Mellon Corp raised its position in Cinemark by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 1,757,728 shares of the company’s stock valued at $70,661,000 after purchasing an additional 55,293 shares during the period. CI Investments Inc. raised its position in Cinemark by 1.6% in the third quarter. CI Investments Inc. now owns 2,852,873 shares of the company’s stock valued at $114,685,000 after purchasing an additional 44,450 shares during the period. Martingale Asset Management L P purchased a new stake in Cinemark in the third quarter valued at $503,000. Finally, Credit Suisse AG raised its position in Cinemark by 22.9% in the third quarter. Credit Suisse AG now owns 105,398 shares of the company’s stock valued at $4,236,000 after purchasing an additional 19,670 shares during the period. 96.38% of the stock is currently owned by hedge funds and other institutional investors.
CNK has been the topic of a number of research analyst reports. Wedbush set a $46.00 target price on Cinemark and gave the company a “buy” rating in a research report on Friday, February 22nd. Loop Capital initiated coverage on Cinemark in a research report on Thursday, January 31st. They issued a “hold” rating and a $41.00 target price on the stock. Imperial Capital restated an “outperform” rating and issued a $47.00 target price (up previously from $46.00) on shares of Cinemark in a research report on Monday, January 7th. ValuEngine upgraded Cinemark from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th. Finally, Zacks Investment Research downgraded Cinemark from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Cinemark has an average rating of “Buy” and a consensus target price of $44.67.
Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, February 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.28). Cinemark had a net margin of 6.64% and a return on equity of 14.59%. The firm had revenue of $798.48 million during the quarter, compared to analysts’ expectations of $767.97 million. During the same quarter in the prior year, the firm posted $0.82 EPS. Cinemark’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts predict that Cinemark Holdings, Inc. will post 2.27 EPS for the current fiscal year.
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Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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