Cinemark (NYSE:CNK) Stock Rating Upgraded by B. Riley

Cinemark (NYSE:CNK) was upgraded by research analysts at B. Riley to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley decreased their price target on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Benchmark cut their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Macquarie restated an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on Cinemark from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.20.

Cinemark Stock Performance

Shares of Cinemark stock opened at $31.82 on Thursday. The company has a market cap of $3.66 billion, a P/E ratio of 15.67 and a beta of 1.91. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The business has a 50-day moving average price of $27.51 and a two-hundred day moving average price of $29.46. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. During the same period in the previous year, the company posted $0.19 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, analysts anticipate that Cinemark will post 1.93 EPS for the current year.

Insider Buying and Selling at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the sale, the executive vice president now directly owns 210,968 shares of the company’s stock, valued at $6,630,724.24. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Cinemark by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock valued at $387,408,000 after purchasing an additional 109,179 shares in the last quarter. Wellington Management Group LLP increased its stake in Cinemark by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company’s stock valued at $232,643,000 after buying an additional 1,066,225 shares during the last quarter. Candlestick Capital Management LP lifted its position in shares of Cinemark by 48.1% during the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after buying an additional 1,601,537 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock worth $127,159,000 after buying an additional 2,054,579 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Cinemark by 12.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock valued at $117,773,000 after acquiring an additional 430,006 shares in 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.