Martingale Asset Management L P raised its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 554,830 shares of the company’s stock after buying an additional 87,358 shares during the period. Martingale Asset Management L P’s holdings in Cinemark Holdings were worth $21,284,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Advisor Group Inc. raised its stake in shares of Cinemark Holdings by 17.5% in the third quarter. Advisor Group Inc. now owns 3,981 shares of the company’s stock worth $151,000 after buying an additional 592 shares during the period. Bessemer Group Inc. raised its stake in shares of Cinemark Holdings by 1.7% in the fourth quarter. Bessemer Group Inc. now owns 4,277 shares of the company’s stock worth $164,000 after buying an additional 73 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Cinemark Holdings during the third quarter worth $207,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Cinemark Holdings during the third quarter worth $223,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Cinemark Holdings during the third quarter worth $241,000. Hedge funds and other institutional investors own 90.73% of the company’s stock.
Shares of Cinemark Holdings Inc (NYSE:CNK) traded down 1.03% during mid-day trading on Tuesday, hitting $42.39. The company had a trading volume of 560,963 shares. Cinemark Holdings Inc has a 12-month low of $27.70 and a 12-month high of $42.93. The firm’s 50 day moving average is $40.74 and its 200-day moving average is $39.50. The firm has a market cap of $4.90 billion, a PE ratio of 20.88 and a beta of 0.97.
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CNK has been the subject of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) upgraded Cinemark Holdings from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, October 31st. B. Riley restated a “buy” rating and set a $47.00 price objective on shares of Cinemark Holdings in a research note on Wednesday, November 9th. Benchmark Co. restated a “hold” rating and set a $35.94 price objective on shares of Cinemark Holdings in a research note on Wednesday, November 9th. Wedbush restated a “neutral” rating and set a $40.00 price objective on shares of Cinemark Holdings in a research note on Tuesday, November 8th. Finally, RBC Capital Markets restated an “outperform” rating and set a $43.00 price objective (up previously from $42.00) on shares of Cinemark Holdings in a research note on Monday, November 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $42.13.
In related news, EVP Michael Cavalier sold 5,525 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $39.23, for a total transaction of $216,745.75. Following the sale, the executive vice president now directly owns 166,528 shares in the company, valued at approximately $6,532,893.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tom Owens sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $39.02, for a total transaction of $120,962.00. Following the sale, the executive vice president now owns 74,950 shares in the company, valued at $2,924,549. The disclosure for this sale can be found here. Insiders have sold a total of 12,037 shares of company stock worth $471,595 over the last 90 days. 9.20% of the stock is currently owned by corporate insiders.
About Cinemark Holdings
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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