Cinemark (NYSE:CNK) Trading Up 2.8% After Analyst Upgrade

Cinemark Holdings, Inc. (NYSE:CNK) traded up 2.8% during trading on Thursday after Wells Fargo & Company raised their price target on the stock from $28.00 to $31.00. Wells Fargo & Company currently has an overweight rating on the stock. Cinemark traded as high as $28.24 and last traded at $28.11. 128,567 shares were traded during trading, a decline of 96% from the average session volume of 2,874,287 shares. The stock had previously closed at $27.35.

A number of other brokerages have also recently issued reports on CNK. Roth Mkm boosted their price objective on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. Barrington Research cut Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. 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. Roth Capital upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Finally, Wedbush increased their price objective on Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. 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. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and a consensus price target of $27.10.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were 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 approximately $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Cinemark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Third Point LLC bought a new stake in Cinemark during the 1st quarter valued at $89,850,000. Dimensional Fund Advisors LP raised its holdings in shares of Cinemark by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock worth $63,012,000 after acquiring an additional 148,076 shares during the last quarter. Victory Capital Management Inc. lifted its position in Cinemark by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after acquiring an additional 35,993 shares in the last quarter. Steadfast Capital Management LP acquired a new position in Cinemark during the 1st quarter valued at about $29,323,000. Finally, Hennessy Advisors Inc. increased its holdings in Cinemark by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after purchasing an additional 234,400 shares in the last quarter.

Cinemark Stock Up 6.3 %

The stock has a fifty day moving average price of $27.23 and a two-hundred day moving average price of $21.88. The company has a market cap of $3.56 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. The firm had revenue of $734.20 million for 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 business’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. On average, research analysts expect that Cinemark Holdings, Inc. will post 1.33 EPS for the current year.

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.