Cinemark (NYSE:CNK) Stock Rating Lowered by Barrington Research

Cinemark (NYSE:CNK) was downgraded by Barrington Research from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, MarketBeat.com reports.

A number of other analysts have also weighed in on the stock. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Benchmark reaffirmed a “buy” rating and set a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. Roth Capital raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. increased their target price on shares of Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Macquarie lifted their price target on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.60.

Cinemark Trading Up 0.1 %

Shares of NYSE CNK opened at $27.73 on Wednesday. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.14 and a beta of 2.36. The stock’s 50 day simple moving average is $23.68 and its 200 day simple moving average is $19.74. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. Cinemark has a 12-month low of $13.19 and a 12-month high of $28.43.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. During the same quarter last year, the business earned $0.80 earnings per share. Cinemark’s revenue was down 22.1% compared to the same quarter last year. Equities research analysts expect that Cinemark will post 1.08 EPS for the current year.

Insider Activity

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Park West Asset Management LLC raised its stake in shares of Cinemark by 34.3% in the fourth quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock valued at $16,556,000 after purchasing an additional 300,000 shares in the last quarter. Sei Investments Co. raised its position in Cinemark by 38.1% in the first quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock worth $2,069,000 after purchasing an additional 31,739 shares in the last quarter. Peconic Partners LLC boosted its holdings in Cinemark by 66.7% during the fourth quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock valued at $7,045,000 after purchasing an additional 200,000 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Cinemark by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock worth $23,286,000 after buying an additional 160,200 shares in the last quarter. Finally, Kodai Capital Management LP bought a new position in shares of Cinemark during the 4th quarter worth approximately $3,994,000.

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.