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

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Macquarie raised their target price on Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price target on Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Benchmark reissued a “buy” rating and set a $23.00 price objective on shares of Cinemark in a report on Monday, July 1st. Finally, B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.60.

Cinemark Price Performance

The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.14 and a beta of 2.36. The company has a 50 day moving average price of $23.36 and a 200 day moving average price of $19.63.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. During the same quarter in the prior year, the business posted $0.80 EPS. The firm’s quarterly revenue was down 22.1% on a year-over-year basis. As a group, equities research analysts forecast that Cinemark Holdings, Inc. will post 1.08 earnings per share for the current year.

Insider Transactions at Cinemark

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

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Cinemark by 1.8% in the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock worth $662,000 after acquiring an additional 556 shares in 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 worth $2,209,000 after buying an additional 612 shares during the period. NBC Securities Inc. boosted its holdings in shares of Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after buying an additional 700 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after acquiring an additional 877 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Cinemark by 5.9% during the 2nd 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 in the last quarter.

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.