Cinemark (NYSE:CNK) Shares Down 3.6%

Shares of Cinemark Holdings, Inc. (NYSE:CNK) fell 3.6% during trading on Monday . The stock traded as low as $17.02 and last traded at $17.09. 314,915 shares were traded during mid-day trading, a decline of 90% from the average session volume of 3,054,487 shares. The stock had previously closed at $17.72.

Analysts Set New Price Targets

CNK has been the topic of several research reports. The Goldman Sachs Group reduced their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. B. Riley upped their price objective on Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday. Roth Mkm raised their target price on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.33.

Cinemark Stock Down 4.0 %

The company has a 50-day moving average of $17.91 and a 200-day moving average of $15.85. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.40. The firm had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. Cinemark’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS. On average, equities analysts predict that Cinemark Holdings, Inc. will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mitchell Capital Management Co. lifted its position in shares of Cinemark by 3.0% during the 1st quarter. Mitchell Capital Management Co. now owns 395,801 shares of the company’s stock valued at $7,113,000 after buying an additional 11,443 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Cinemark by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock valued at $1,664,000 after acquiring an additional 1,345 shares in the last quarter. Easterly Investment Partners LLC boosted its stake in shares of Cinemark by 1.1% in the first quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock worth $8,839,000 after acquiring an additional 5,236 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Cinemark by 7.7% during the first quarter. Commonwealth Equity Services LLC now owns 369,205 shares of the company’s stock worth $6,635,000 after purchasing an additional 26,335 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Cinemark by 2.3% in the 1st quarter. New York State Teachers Retirement System now owns 111,815 shares of the company’s stock valued at $2,009,000 after purchasing an additional 2,464 shares during the last quarter.

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.