Cinemark (NYSE:CNK) Trading Down 3.6%

Cinemark Holdings, Inc. (NYSE:CNK) shares fell 3.6% on Monday . The company traded as low as $17.02 and last traded at $17.09. 314,915 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 3,054,487 shares. The stock had previously closed at $17.72.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective 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. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a research note on Monday. Benchmark reiterated a “buy” rating and issued a $23.00 target price on shares of Cinemark in a research note on Friday. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and raised their target price for the company from $13.00 to $23.00 in a report on Friday, April 5th. Finally, Roth Mkm upped their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.33.

Cinemark Price Performance

The stock has a fifty day simple moving average of $17.91 and a 200-day simple moving average of $15.85. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25. 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 (NYSE:CNK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. The company had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) EPS. As a group, equities research analysts expect that Cinemark Holdings, Inc. will post 0.86 EPS for the current year.

Insider Transactions at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’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 value of $328,182.75. Following the transaction, the insider now directly owns 179,591 shares of the company’s stock, valued at $3,008,149.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cinemark

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of Cinemark by 30.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock worth $4,059,000 after purchasing an additional 67,851 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Cinemark by 17.0% in the 4th quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock valued at $9,819,000 after purchasing an additional 101,272 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Cinemark in the 4th quarter valued at about $748,000. Schonfeld Strategic Advisors LLC grew its holdings in Cinemark by 276.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock worth $3,470,000 after purchasing an additional 138,874 shares during the period. Finally, Illinois Municipal Retirement Fund bought a new stake in Cinemark in the fourth quarter valued at approximately $901,000.

Cinemark Company Profile

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.