Cinemark (NYSE:CNK) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Cinemark (NYSE:CNK) from a sell rating to a hold rating in a research note released on Monday.

CNK has been the subject of several other reports. Barrington Research downgraded Cinemark from an outperform rating to a market perform rating in a report on Wednesday, August 28th. B. Riley lowered shares of Cinemark from a buy rating to a neutral rating and set a $31.00 price target for the company. in a research note on Tuesday, August 27th. Roth Capital upgraded shares of Cinemark from a hold rating to a strong-buy rating in a research report on Monday, June 24th. Roth Mkm lifted their price objective on Cinemark from $28.00 to $30.00 and gave the stock a buy rating in a report on Monday, August 5th. Finally, Morgan Stanley upped their price objective on Cinemark from $26.00 to $29.00 and gave the company an overweight rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $26.00.

Cinemark Stock Up 0.8 %

Shares of NYSE:CNK opened at $26.97 on Monday. The stock has a 50 day moving average price of $27.15 and a 200-day moving average price of $21.82. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The firm has a market capitalization of $3.30 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.07 and a beta of 2.36. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.07.

Cinemark (NYSE:CNK) last announced its 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. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same quarter last year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was down 22.1% on a year-over-year basis. As a group, equities research analysts anticipate that Cinemark will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark 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 transaction, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNK. GAMMA Investing LLC lifted its stake in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Cinemark in the second quarter worth about $79,000. Fifth Third Bancorp lifted its stake in shares of Cinemark by 414.4% in the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock valued at $97,000 after purchasing an additional 3,609 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Cinemark during the 2nd quarter valued at $144,000.

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.