Cinemark’s (CNK) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reiterated their neutral rating on shares of Cinemark (NYSE:CNK) in a report released on Tuesday morning,RTT News reports. Wedbush currently has a $32.00 price objective on the stock.

A number of other analysts have also recently weighed in on CNK. Macquarie raised their target price on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company reduced their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Trading Up 1.6 %

Cinemark stock opened at $33.10 on Tuesday. The firm has a 50 day simple moving average of $30.54 and a 200-day simple moving average of $29.72. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The stock has a market capitalization of $4.05 billion, a PE ratio of 21.35 and a beta of 2.38. Cinemark has a 12-month low of $15.74 and a 12-month high of $36.28.

Institutional Investors Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. CWM LLC lifted its position in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after buying an additional 1,716 shares in the last quarter. Creative Planning lifted its position in Cinemark by 74.8% in the 3rd quarter. Creative Planning now owns 20,907 shares of the company’s stock worth $582,000 after buying an additional 8,946 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Cinemark in the 3rd quarter worth approximately $9,530,000. Assenagon Asset Management S.A. purchased a new stake in Cinemark in the 3rd quarter worth approximately $12,133,000. Finally, Principal Financial Group Inc. lifted its position in Cinemark by 18.8% in the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after buying an additional 99,843 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.