Cinemark (NYSE:CNK) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Cinemark (NYSE:CNK - Free Report) from a hold rating to a sell rating in a report issued on Tuesday.

Several other research firms have also recently weighed in on CNK. Macquarie boosted their price target on Cinemark from $21.00 to $24.00 and gave the stock an outperform rating in a report on Tuesday, July 9th. Barrington Research cut shares of Cinemark from an outperform rating to a market perform rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target on shares of Cinemark from $25.00 to $29.00 and gave the company a neutral rating in a research note on Monday. Wedbush boosted their price objective on shares of Cinemark from $28.00 to $31.00 and gave the stock an outperform rating in a research note on Tuesday, September 3rd. Finally, Morgan Stanley raised their target price on Cinemark from $29.00 to $35.00 and gave the stock an overweight rating in a research report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $28.10.

Cinemark Price Performance

NYSE:CNK traded down $0.37 on Tuesday, hitting $28.72. The company had a trading volume of 2,517,621 shares, compared to its average volume of 2,888,746. Cinemark has a 52 week low of $13.19 and a 52 week high of $29.87. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.94 and a beta of 2.36. The firm has a 50 day moving average of $27.64 and a two-hundred day moving average of $22.26.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. On average, research analysts anticipate that Cinemark will post 1.41 earnings per share for the current year.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the firm'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 completion of the sale, the insider now owns 204,729 shares of the company's stock, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cinemark

A number of institutional investors and hedge funds have recently modified their holdings of CNK. Virtu Financial LLC acquired a new position in shares of Cinemark during the 4th quarter valued at $192,000. Hennessy Advisors Inc. boosted its position in shares of Cinemark by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company's stock worth $23,286,000 after purchasing an additional 160,200 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Cinemark by 7.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 369,205 shares of the company's stock worth $6,635,000 after purchasing an additional 26,335 shares in the last quarter. Easterly Investment Partners LLC grew its stake in shares of Cinemark by 1.1% in the 1st quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company's stock valued at $8,839,000 after buying an additional 5,236 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in Cinemark by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company's stock valued at $1,664,000 after buying an additional 1,345 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.