Cinemark (NYSE:CNK) Trading Down 3.6% – What’s Next?

Cinemark Holdings, Inc. (NYSE:CNK)’s share price was down 3.6% during trading on Monday . The stock traded as low as $29.61 and last traded at $29.94. Approximately 142,236 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,485,832 shares. The stock had previously closed at $31.06.

Wall Street Analyst Weigh In

CNK has been the topic of several research reports. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Roth Mkm upped their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Thursday, October 31st. Wedbush lowered Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Cinemark Trading Down 0.7 %

The firm’s 50-day moving average price is $32.10 and its 200 day moving average price is $28.02. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 1.66 and a beta of 2.40. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. The business had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. As a group, equities analysts expect that Cinemark Holdings, Inc. will post 2 EPS for the current year.

Insider Buying and Selling

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cinemark

Several institutional investors have recently bought and sold shares of the stock. Quarry LP grew its position in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after acquiring an additional 1,308 shares during the period. GAMMA Investing LLC grew its stake in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after acquiring an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings in 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 last quarter. USA Financial Formulas bought a new stake in Cinemark in the 3rd quarter valued at about $77,000. Finally, CWM LLC lifted its holdings in 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 last quarter.

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.