Shares of Cinemark Holdings, Inc. (NYSE:CNK – Get Free Report) have earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $32.80.
Several brokerages have commented on CNK. Wells Fargo & Company boosted their price target on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Morgan Stanley increased their target price on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of Cinemark in a report on Friday, January 10th. Finally, Macquarie raised their price objective on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.
View Our Latest Research Report on CNK
Cinemark Stock Down 1.6 %
Cinemark (NYSE:CNK – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The business had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.61 earnings per share. On average, analysts expect that Cinemark will post 2.06 EPS for the current fiscal year.
Insider Transactions at Cinemark
In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the transaction, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Natixis Advisors LLC grew its position in Cinemark by 2.9% during the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after buying an additional 583 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares during the period. GAMMA Investing LLC lifted its position in shares of Cinemark by 44.9% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $91,000 after acquiring an additional 906 shares during the period. Quarry LP grew its holdings in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares in the last quarter. Finally, CWM LLC increased its position in shares of Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 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.
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