Cinemark (NYSE:CNK) Downgraded by StockNews.com

Cinemark (NYSE:CNK) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

CNK has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Roth Mkm raised their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price target on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research note on Tuesday, August 27th. Finally, Wedbush boosted their target price on shares of Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and an average price target of $28.10.

Cinemark Price Performance

Shares of NYSE:CNK traded down $0.14 during midday trading on Thursday, hitting $28.20. The stock had a trading volume of 1,656,305 shares, compared to its average volume of 2,853,006. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The company has a market capitalization of $3.45 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. The company’s 50-day moving average price is $27.95 and its 200-day moving average price is $22.69. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $29.87.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company’s revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. As a group, equities research analysts predict that Cinemark will post 1.41 EPS for the current fiscal year.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cinemark

A number of institutional investors have recently made changes to their positions in CNK. GAMMA Investing LLC boosted its position in Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after acquiring an additional 1,040 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares in the last quarter. USA Financial Formulas bought a new stake in Cinemark in the third quarter worth approximately $77,000. 1620 Investment Advisors Inc. acquired a new position in Cinemark in the second quarter valued at approximately $79,000. Finally, CWM LLC boosted its holdings in shares of Cinemark by 134.4% during 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.

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.