Cinemark Holdings Inc $CNK Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 24.9% during the third quarter, Holdings Channel reports. The firm owned 495,182 shares of the company’s stock after selling 164,162 shares during the period. Principal Financial Group Inc.’s holdings in Cinemark were worth $13,875,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 507 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Cinemark in the second quarter valued at $47,000. Financial Consulate Inc. acquired a new position in Cinemark in the third quarter valued at $50,000. Meeder Asset Management Inc. purchased a new position in shares of Cinemark during the third quarter worth about $63,000. Finally, Russell Investments Group Ltd. increased its position in shares of Cinemark by 48.0% during the second quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock worth $158,000 after purchasing an additional 1,696 shares in the last quarter.

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the sale, the executive vice president owned 159,416 shares in the company, valued at approximately $4,152,786.80. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Zacks Research cut Cinemark from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Wells Fargo & Company decreased their price objective on Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. UBS Group raised shares of Cinemark to a “buy” rating in a report on Tuesday, January 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 price target (down previously from $35.00) on shares of Cinemark in a research report on Thursday, December 18th. Finally, Barrington Research decreased their price target on shares of Cinemark from $36.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

Cinemark Price Performance

Shares of NYSE CNK opened at $25.79 on Wednesday. The stock has a fifty day moving average price of $23.69 and a 200 day moving average price of $25.94. Cinemark Holdings Inc has a 1-year low of $21.60 and a 1-year high of $34.01. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. The company has a market cap of $3.03 billion, a PE ratio of 24.79, a P/E/G ratio of 2.56 and a beta of 1.13.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.