Cinemark (NYSE:CNK) Shares Up 2.8%

Cinemark Holdings, Inc. (NYSE:CNK)’s share price shot up 2.8% on Tuesday . The company traded as high as $18.18 and last traded at $18.18. 470,289 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 3,135,394 shares. The stock had previously closed at $17.68.

Analysts Set New Price Targets

CNK has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. Roth Mkm raised their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $23.00 in a report on Friday, April 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Cinemark in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.56.

Cinemark Trading Down 0.1 %

The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 2.18 and a beta of 2.27. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.42 and a current ratio of 1.45. The business has a fifty day moving average price of $17.49 and a 200 day moving average price of $15.89.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $638.90 million for the quarter, compared to analyst estimates of $619.67 million. Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) earnings per share. As a group, equities analysts forecast that Cinemark Holdings, Inc. will post 0.83 earnings per share for the current year.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the completion of the sale, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by insiders.

Institutional Trading of Cinemark

Several large investors have recently modified their holdings of the business. VitalStone Financial LLC bought a new position in shares of Cinemark during the first quarter worth about $27,000. Tower Research Capital LLC TRC lifted its position in shares of Cinemark by 38.8% during the first quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock worth $39,000 after purchasing an additional 749 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Cinemark during the second quarter worth about $48,000. State of Wyoming bought a new position in shares of Cinemark during the second quarter worth about $55,000. Finally, NBC Securities Inc. bought a new position in shares of Cinemark during the third quarter worth about $74,000.

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.