Cinemark (NYSE:CNK) Trading Up 2.8%

Shares of Cinemark Holdings, Inc. (NYSE:CNK) were up 2.8% during trading on Tuesday . The stock traded as high as $18.18 and last traded at $18.18. Approximately 470,289 shares changed hands 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.

Wall Street Analyst Weigh In

Several analysts have commented on CNK shares. The Goldman Sachs Group decreased their price target on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research note on Thursday, January 11th. Wells Fargo & Company upgraded 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 research note on Friday, April 5th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Cinemark in a research note on Tuesday, February 13th. Roth Mkm boosted their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Cinemark presently has an average rating of “Hold” and an average target price of $19.56.

Cinemark Stock Performance

The business’s fifty day moving average price is $17.33 and its two-hundred day moving average price is $15.87. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.42 and a current ratio of 1.45. The stock has a market capitalization of $2.21 billion, a P/E ratio of 14.37, a P/E/G ratio of 2.22 and a beta of 2.27.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $638.90 million for the quarter, compared to the consensus estimate of $619.67 million. Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) earnings per share. As a group, sell-side analysts forecast that Cinemark Holdings, Inc. will post 0.8 earnings per share for the current year.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cinemark

A number of hedge funds have recently added to or reduced their stakes in CNK. Raymond James Financial Services Advisors Inc. grew its stake in Cinemark by 61.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 50,486 shares of the company’s stock worth $872,000 after acquiring an additional 19,144 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Cinemark by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,133,373 shares of the company’s stock worth $19,584,000 after acquiring an additional 11,733 shares in the last quarter. Natixis Advisors L.P. bought a new position in Cinemark in the 1st quarter worth about $247,000. Bank of Montreal Can lifted its position in shares of Cinemark by 63.4% in the 1st quarter. Bank of Montreal Can now owns 52,765 shares of the company’s stock worth $923,000 after purchasing an additional 20,477 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Cinemark by 55.6% in the 1st quarter. MetLife Investment Management LLC now owns 58,176 shares of the company’s stock worth $1,005,000 after purchasing an additional 20,792 shares during the period.

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.