Cinemark (NYSE:CNK) Hits New 1-Year High at $27.88

Shares of Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $27.88 and last traded at $27.76, with a volume of 111119 shares changing hands. The stock had previously closed at $27.80.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barrington Research reiterated an "outperform" rating and set a $24.00 price target on shares of Cinemark in a report on Friday, August 2nd. Wedbush reiterated an "outperform" rating and issued a $25.00 target price on shares of Cinemark in a report on Monday, July 29th. Morgan Stanley increased their price target on Cinemark from $26.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. B. Riley boosted their target price on shares of Cinemark from $27.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cinemark from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.60.

Cinemark Price Performance

The stock has a market capitalization of $3.45 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 2.14 and a beta of 2.36. The business has a fifty day simple moving average of $23.19 and a 200 day simple moving average of $19.54. 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 - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. Cinemark's revenue was down 22.1% compared to the same quarter last year. On average, analysts expect that Cinemark Holdings, Inc. will post 1.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares of the company's stock, valued at $5,566,581.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. Arizona State Retirement System lifted its holdings in Cinemark by 1.8% during the second quarter. Arizona State Retirement System now owns 30,636 shares of the company's stock valued at $662,000 after purchasing an additional 556 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Cinemark by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company's stock valued at $2,209,000 after acquiring an additional 612 shares during the period. NBC Securities Inc. lifted its position in shares of Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company's stock worth $67,000 after acquiring an additional 700 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock worth $68,000 after acquiring an additional 877 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Cinemark by 5.9% in the second quarter. QRG Capital Management Inc. now owns 20,557 shares of the company's stock worth $444,000 after acquiring an additional 1,148 shares during the period.

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.