Cinemark (NYSE:CNK) Hits New 12-Month High on Analyst Upgrade

Cinemark Holdings, Inc. (NYSE:CNK)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $35.00 to $38.00. Wells Fargo & Company currently has an overweight rating on the stock. Cinemark traded as high as $34.43 and last traded at $34.30, with a volume of 1013063 shares traded. The stock had previously closed at $32.84.

CNK has been the topic of several other research reports. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Wedbush cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Roth Mkm raised their price objective on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Thursday, October 31st. Finally, Macquarie increased their price target on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and an average target price of $31.10.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were 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 owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The sale 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 insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP boosted its holdings in 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 increased its stake in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after buying an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares in the last quarter. USA Financial Formulas purchased a new stake in Cinemark in the 3rd quarter valued at about $77,000. Finally, 1620 Investment Advisors Inc. bought a new position in Cinemark in the 2nd quarter worth about $79,000.

Cinemark Trading Up 4.1 %

The stock’s 50-day moving average price is $29.65 and its 200 day moving average price is $25.01. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The firm has a market capitalization of $4.18 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.67 and a beta of 2.35.

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

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.