Cinemark (NYSE:CNK) Trading Up 2.8%

Cinemark Holdings, Inc. (NYSE:CNK) shares shot up 2.8% on Tuesday . The company traded as high as $18.18 and last traded at $18.18. 470,289 shares were traded during trading, a decline of 85% from the average session volume of 3,135,394 shares. The stock had previously closed at $17.68.

Analyst Ratings Changes

A number of brokerages have weighed in on CNK. Roth Mkm lifted their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Benchmark reiterated a “buy” rating and set a $22.00 price target on shares of Cinemark in a research report on Wednesday, April 10th. Wells Fargo & Company upgraded shares of Cinemark from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $23.00 in a research report on Friday, April 5th. Finally, The Goldman Sachs Group dropped their price target on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cinemark currently has a consensus rating of “Hold” and a consensus target price of $19.56.

Cinemark Stock Up 2.6 %

The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.22 and a beta of 2.27. The business’s fifty day moving average is $17.33 and its two-hundred day moving average is $15.87.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The firm had revenue of $638.90 million for the quarter, compared to analyst estimates of $619.67 million. During the same quarter last year, the firm earned ($0.82) EPS. The company’s revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Cinemark Holdings, Inc. will post 0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the transaction, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNK. Royal London Asset Management Ltd. purchased a new stake in shares of Cinemark during the 4th quarter worth approximately $19,906,000. Hennessy Advisors Inc. purchased a new stake in Cinemark in the 4th quarter valued at $16,001,000. Norges Bank purchased a new stake in Cinemark in the 4th quarter valued at $8,659,000. Renaissance Technologies LLC raised its position in Cinemark by 241.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,334,400 shares of the company’s stock valued at $23,058,000 after purchasing an additional 943,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cinemark by 85.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,714,344 shares of the company’s stock valued at $29,624,000 after purchasing an additional 789,200 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.