Cinemark Holdings Inc. (NYSE:CNK) closed Thursday at $19.35 per share, down from $19.38 a day earlier. While Cinemark Holdings Inc. has underperformed by -0.15%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CNK rose by 35.03%, with highs and lows ranging from $23.15 to $13.37, whereas the simple moving average jumped by 14.35% in the last 200 days.
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On July 19, 2022, Morgan Stanley Upgraded Cinemark Holdings Inc. (NYSE: CNK) to Overweight. A report published by Credit Suisse on November 09, 2021, Upgraded its rating to ‘Outperform’ for CNK. Wells Fargo also rated CNK shares as ‘Equal Weight’, setting a target price of $22 on the company’s shares in an initiating report dated October 22, 2021. Goldman June 02, 2021d the rating to Sell on June 02, 2021, and set its price target from $21 to $19. Loop Capital March 01, 2021d its ‘Buy’ rating to ‘Hold’ for CNK, as published in its report on March 01, 2021. MKM Partners’s report from February 01, 2021 suggests a price prediction of $22 for CNK shares, giving the stock a ‘Neutral’ rating. B. Riley Securities also rated the stock as ‘Buy’.
Analysis of Cinemark Holdings Inc. (CNK)
Further, the quarter-over-quarter increase in sales is 302.50%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Cinemark Holdings Inc.’s future performance, with equity being one of the most critical indicators. Taking into account the quick ratio of the company, currently set at 1.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and CNK is recording an average volume of 2.38M. On a monthly basis, the volatility of the stock is set at 4.03%, whereas on a weekly basis, it is put at 4.03%, with a gain of 2.16% over the past seven days. Furthermore, long-term investors anticipate a median target price of $21.41, showing growth from the present price of $19.35, which can serve as yet another indication of whether CNK is worth investing in or should be passed over.
How Do You Analyze Cinemark Holdings Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 99.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CNK shares?
The recent increase in stakes in CNK appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in CNK has increased by 2.69% in the first quarter. The company now owns 16,564,335 shares of the stock, with a value of $248.8 million, following the purchase of 433,227 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in CNK during the first quarter, upping its stake by 3.32%. During the last quarter, the company picked up 365,950 additional shares for a total stake of worth $170.94 million, bringing number of shares owned by the company to 11,380,542.
During the first quarter, Wellington Management Co. LLP added a 184,373 position in CNK. GBM Administradora de Activos, SA sold an additional 0.0 shares in the last quarter, decreasing its holdings by 0.00%, now holding 5.92 million shares worth $88.92 million. At the end of the first quarter, Fidelity Management & Research Co increased its CNK holdings by 28.66% and now holds 4.32 million CNK shares valued at $64.85 million with the added 0.96 million shares during the period. CNK shares are owned by institutional investors to the tune of 99.60% at present.
