BB&T Corp Sells 10,286 Shares of Cinemark Holdings Inc (CNK)
BB&T Corp reduced its holdings in shares of Cinemark Holdings Inc (NYSE:CNK) by 44.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,896 shares of the company’s stock after selling 10,286 shares during the quarter. BB&T Corp’s holdings in Cinemark Holdings were worth $467,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNK. Advisor Group Inc. lifted its stake in Cinemark Holdings by 2.3% in the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock worth $145,000 after purchasing an additional 84 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Cinemark Holdings in the 2nd quarter worth approximately $146,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cinemark Holdings by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock worth $147,000 after purchasing an additional 330 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Cinemark Holdings by 224.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock worth $185,000 after purchasing an additional 3,289 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Cinemark Holdings in the 1st quarter worth approximately $213,000. Institutional investors and hedge funds own 90.00% of the company’s stock.
Several research firms have issued reports on CNK. Wedbush set a $42.00 target price on shares of Cinemark Holdings and gave the stock a “buy” rating in a research note on Monday. B. Riley set a $47.00 target price on shares of Cinemark Holdings and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research cut shares of Cinemark Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Morgan Stanley upgraded shares of Cinemark Holdings from an “underweight” rating to an “equal weight” rating and set a $38.00 target price on the stock in a research note on Thursday, October 5th. Finally, Credit Suisse Group lowered their target price on shares of Cinemark Holdings from $34.00 to $30.00 and set an “underperform” rating on the stock in a research note on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $41.85.
Cinemark Holdings (NYSE:CNK) last released its earnings results on Friday, August 4th. The company reported $0.44 EPS for the quarter, hitting the consensus estimate of $0.44. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The firm had revenue of $751.20 million for the quarter, compared to the consensus estimate of $751.72 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year.
In related news, CEO Mark Zoradi bought 5,000 shares of the stock in a transaction dated Monday, August 28th. The shares were purchased at an average price of $32.83 per share, with a total value of $164,150.00. Following the completion of the acquisition, the chief executive officer now owns 167,456 shares of the company’s stock, valued at $5,497,580.48. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 9.20% of the stock is currently owned by insiders.
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Cinemark Holdings Company Profile
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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