Cinemark (NYSE:CNK) Shares Up 2.8%

Cinemark Holdings, Inc. (NYSE:CNK)’s stock price rose 2.8% on Tuesday . The company traded as high as $18.18 and last traded at $18.18. Approximately 470,289 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 3,135,394 shares. The stock had previously closed at $17.68.

Analyst Ratings Changes

CNK has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $13.00 to $23.00 in a report on Friday, April 5th. The Goldman Sachs Group cut their target price on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. Roth Mkm increased their target price on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $15.00 in a research report on Tuesday, January 2nd. Finally, Benchmark reiterated a “buy” rating and set a $22.00 target price on shares of Cinemark in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.56.

Cinemark Price Performance

The company has a market capitalization of $2.20 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 2.18 and a beta of 2.27. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. The business’s 50-day moving average price is $17.49 and its 200 day moving average price is $15.89.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, February 16th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The company had revenue of $638.90 million for the quarter, compared to the consensus estimate of $619.67 million. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts anticipate that Cinemark Holdings, Inc. will post 0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total value of $328,182.75. Following the transaction, the insider now directly owns 179,591 shares of the company’s stock, valued at $3,008,149.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CNK. Royal London Asset Management Ltd. bought a new stake in Cinemark in the fourth quarter valued at $19,906,000. Hennessy Advisors Inc. bought a new stake in Cinemark in the fourth quarter valued at $16,001,000. Norges Bank bought a new stake in Cinemark in the fourth quarter valued at $8,659,000. Renaissance Technologies LLC boosted its holdings in Cinemark by 241.0% in the first quarter. Renaissance Technologies LLC now owns 1,334,400 shares of the company’s stock valued at $23,058,000 after acquiring an additional 943,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cinemark by 85.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,714,344 shares of the company’s stock valued at $29,624,000 after acquiring an additional 789,200 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.