Cinemark (NYSE:CNK) Trading 4.6% Higher - Here's Why

Shares of Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) traded up 4.6% on Monday . The company traded as high as $25.73 and last traded at $25.70. 418,916 shares were traded during mid-day trading, a decline of 85% from the average session volume of 2,887,827 shares. The stock had previously closed at $24.58.

Analysts Set New Price Targets

CNK has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Morgan Stanley cut their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Wedbush reaffirmed a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. Macquarie reissued an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Cinemark in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.10.

Cinemark Stock Performance

The firm has a market cap of $3.29 billion, a PE ratio of 13.74 and a beta of 2.07. The company has a 50-day simple moving average of $26.77 and a two-hundred day simple moving average of $29.19. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28.

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Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. During the same quarter in the previous year, the company posted ($0.15) EPS. Cinemark's quarterly revenue was up 27.5% compared to the same quarter last year. As a group, equities research analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The company also recently declared a -- dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark's payout ratio is 15.76%.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now owns 147,414 shares of the company's stock, valued at $3,980,178. The trade was a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently made changes to their positions in CNK. Elequin Capital LP lifted its stake in Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after purchasing an additional 677 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after purchasing an additional 825 shares during the period. Aster Capital Management DIFC Ltd raised its position in shares of Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after buying an additional 1,501 shares in the last quarter. R Squared Ltd bought a new stake in Cinemark during the fourth quarter valued at $63,000. Finally, Quarry LP grew its position in Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after buying an additional 623 shares in the last quarter.

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.