Cinemark (NYSE:CNK) Rating Increased to Hold at StockNews.com

Cinemark (NYSE:CNK) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Several other research firms have also recently issued reports on CNK. Roth Mkm upped their price target on shares of Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on shares of Cinemark from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Benchmark reissued a “buy” rating and set a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. Wedbush increased their target price on shares of Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Finally, Barrington Research cut shares of Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Cinemark Trading Up 0.8 %

Shares of NYSE:CNK traded up $0.21 during trading on Monday, reaching $26.97. The stock had a trading volume of 1,600,115 shares, compared to its average volume of 2,901,197. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $29.07. The business has a fifty day moving average price of $27.15 and a 200-day moving average price of $21.82. The stock has a market cap of $3.30 billion, a P/E ratio of 18.60, a PEG ratio of 2.07 and a beta of 2.36. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23.

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

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the transaction, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cinemark

Large investors have recently made changes to their positions in the business. Third Point LLC purchased a new stake in Cinemark during the first quarter valued at about $89,850,000. Steadfast Capital Management LP purchased a new stake in Cinemark during the first quarter valued at about $29,323,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Cinemark in the first quarter worth approximately $15,975,000. Nut Tree Capital Management LP purchased a new stake in shares of Cinemark in the first quarter worth approximately $13,250,000. Finally, Park West Asset Management LLC lifted its position in shares of Cinemark by 34.3% in the fourth quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after purchasing an additional 300,000 shares in the last quarter.

Cinemark Company Profile

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.