Cinemark (NYSE:CNK) Sets New 1-Year High Following Analyst Upgrade

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) shares hit a new 52-week high during trading on Tuesday after Wedbush raised their price target on the stock from $31.00 to $32.00. Wedbush currently has an outperform rating on the stock. Cinemark traded as high as $29.91 and last traded at $29.80, with a volume of 597739 shares trading hands. The stock had previously closed at $29.37.

Several other research firms have also issued reports on CNK. JPMorgan Chase & Co. boosted their price target on Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Morgan Stanley boosted their target price on Cinemark from $29.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Barrington Research downgraded Cinemark from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 28th. Roth Mkm upped 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. Finally, Wells Fargo & Company upped their price objective on Cinemark from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.20.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the company's 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 transaction, the insider now owns 204,729 shares of the company's stock, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CNK. GAMMA Investing LLC grew its stake in Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock worth $56,000 after purchasing an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in 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 buying an additional 877 shares during the period. USA Financial Formulas purchased a new stake in Cinemark during the third quarter worth $77,000. 1620 Investment Advisors Inc. purchased a new stake in Cinemark during the second quarter worth $79,000. Finally, CWM LLC lifted its holdings in Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after buying an additional 1,716 shares during the period.

Cinemark Stock Performance

The business has a fifty day simple moving average of $28.04 and a two-hundred day simple moving average of $22.89. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The company has a market cap of $3.63 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. Cinemark's revenue was down 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. Research analysts anticipate that Cinemark Holdings, Inc. will post 1.41 earnings per share for the current 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.