Principal Financial Group Inc. Has $17.53 Million Stock Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Principal Financial Group Inc. increased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 18.8% during the third quarter, Holdings Channel reports. The institutional investor owned 629,782 shares of the company’s stock after purchasing an additional 99,843 shares during the period. Principal Financial Group Inc.’s holdings in Cinemark were worth $17,533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CNK. Texas Permanent School Fund Corp lifted its holdings in shares of Cinemark by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock worth $1,664,000 after purchasing an additional 1,345 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Cinemark by 38.1% during the first quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after buying an additional 31,739 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Cinemark by 7.5% during the first quarter. QRG Capital Management Inc. now owns 19,409 shares of the company’s stock worth $349,000 after acquiring an additional 1,353 shares in the last quarter. US Bancorp DE raised its holdings in shares of Cinemark by 68.8% in the 1st quarter. US Bancorp DE now owns 34,846 shares of the company’s stock worth $626,000 after acquiring an additional 14,200 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Cinemark by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 22,083 shares of the company’s stock valued at $397,000 after acquiring an additional 1,527 shares in the last quarter.

Wall Street Analysts Forecast Growth

CNK has been the subject of a number of recent research reports. Roth Mkm boosted their price objective on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Wedbush downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.80.

Insider Buying and Selling at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. This trade represents a 10.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Cinemark Stock Performance

Shares of CNK stock opened at $31.98 on Friday. 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 $3.91 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.64 and a beta of 2.35. Cinemark Holdings, Inc. has a 52 week low of $13.19 and a 52 week high of $33.11. The firm’s 50-day simple moving average is $28.80 and its two-hundred day simple moving average is $23.94.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. During the same quarter in the previous year, the firm posted $0.61 EPS. Cinemark’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that Cinemark Holdings, Inc. will post 2 earnings per share for the current year.

Cinemark Company Profile

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.