Cinemark (NYSE:CNK) Given Neutral Rating at Wedbush

Cinemark (NYSE:CNK)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a research report issued on Tuesday,RTT News reports. They presently have a $32.00 price target on the stock. Wedbush’s target price points to a potential downside of 2.31% from the stock’s previous close.

Several other brokerages have also recently weighed in on CNK. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Thursday, October 31st. Macquarie raised their price objective on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company cut their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Cinemark in a research report on Friday, January 10th. Finally, StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

Cinemark Stock Up 0.6 %

Shares of CNK traded up $0.20 during midday trading on Tuesday, hitting $32.76. The stock had a trading volume of 172,478 shares, compared to its average volume of 2,112,031. The company has a 50 day simple moving average of $30.54 and a two-hundred day simple moving average of $29.72. Cinemark has a twelve month low of $15.74 and a twelve month high of $36.28. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 21.16 and a beta of 2.38. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96.

Hedge Funds Weigh In On Cinemark

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Cinemark by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock valued at $387,408,000 after acquiring an additional 109,179 shares in the last quarter. Candlestick Capital Management LP increased its stake in shares of Cinemark by 48.1% during the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after purchasing an additional 1,601,537 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Cinemark by 100.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock worth $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Cinemark by 12.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock worth $117,773,000 after purchasing an additional 430,006 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Cinemark by 14.5% during the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company’s stock worth $96,807,000 after purchasing an additional 396,720 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.