Cinemark (NYSE:CNK) Shares Down 3.6% - Should You Sell?

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report)'s share price was down 3.6% on Monday . The stock traded as low as $29.61 and last traded at $29.94. Approximately 142,236 shares were traded 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 subject of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a report on Thursday, September 19th. Morgan Stanley upped their price objective on Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Wells Fargo & Company increased their price objective on Cinemark from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Macquarie boosted their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, 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 note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Cinemark currently has an average rating of "Moderate Buy" and an average target price of $32.80.

Cinemark Trading Down 2.0 %

The firm's fifty day simple moving average is $32.08 and its 200 day simple moving average is $27.95. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The stock has a market capitalization of $3.72 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 1.66 and a beta of 2.40.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.58 by $0.61. The business had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 earnings per share. As a group, equities research analysts forecast that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 179,729 shares of the company's stock, valued at $5,873,543.72. This represents a 12.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quarry LP increased its holdings in Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company's stock worth $42,000 after purchasing an additional 1,308 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock valued at $56,000 after buying an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. raised 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 valued at $68,000 after buying an additional 877 shares during the last quarter. USA Financial Formulas acquired a new stake in Cinemark during the 3rd quarter worth approximately $77,000. Finally, CWM LLC grew its holdings in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after acquiring 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.