Cinemark (NYSE:CNK) Trading Down 1.9%

Shares of Cinemark Holdings, Inc. (NYSE:CNK) traded down 1.9% during trading on Thursday . The stock traded as low as $27.79 and last traded at $28.07. 313,985 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,928,765 shares. The stock had previously closed at $28.62.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Barrington Research downgraded shares of Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Benchmark reissued a “buy” rating and set a $23.00 price target on shares of Cinemark in a research report on Monday, July 1st. Macquarie lifted their price objective on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Finally, Wedbush upped their target price on Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Cinemark Trading Down 0.1 %

The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The firm has a 50-day moving average of $25.89 and a two-hundred day moving average of $21.05. The firm has a market capitalization of $3.46 billion, a P/E ratio of 19.52, a P/E/G ratio of 2.12 and a beta of 2.36.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.80 EPS. On average, analysts anticipate that Cinemark Holdings, Inc. will post 1.33 EPS for the current year.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the transaction, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Hedge funds and other institutional investors have recently made changes to their positions in the company. Third Point LLC acquired a new stake in Cinemark during the 1st quarter worth approximately $89,850,000. Steadfast Capital Management LP acquired a new position in shares of Cinemark during the first quarter worth $29,323,000. Hennessy Advisors Inc. acquired a new position in shares of Cinemark during the fourth quarter worth $16,001,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Cinemark in the first quarter worth $15,975,000. Finally, Nut Tree Capital Management LP acquired a new stake in Cinemark in the first quarter valued at $13,250,000.

About Cinemark

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.