Cinemark (NYSE:CNK) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Cinemark (NYSE:CNK) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Other analysts have also recently issued reports about the company. Barrington Research cut Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group increased their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. Benchmark restated a “buy” rating and issued a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a research report on Tuesday, August 27th. Finally, Wedbush upped their price objective on Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cinemark currently has an average rating of “Moderate Buy” and a consensus target price of $28.10.

Cinemark Trading Down 0.6 %

CNK stock opened at $28.76 on Tuesday. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.94 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 has a 1-year low of $13.19 and a 1-year high of $29.87. The business has a 50 day simple moving average of $27.81 and a two-hundred day simple moving average of $22.43.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.07 by $0.25. The business had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. Research analysts anticipate that Cinemark will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Cinemark

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after purchasing an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake 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 valued at $68,000 after purchasing an additional 877 shares during the period. USA Financial Formulas acquired a new position in shares of Cinemark in the third quarter worth about $77,000. 1620 Investment Advisors Inc. acquired a new position in Cinemark in the 2nd quarter worth about $79,000. Finally, CWM LLC raised its stake 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 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.