Cinemark (NYSE:CNK) Given New $33.00 Price Target at Roth Mkm

Cinemark (NYSE:CNK) had its price target upped by Roth Mkm from $30.00 to $33.00 in a research note issued to investors on Thursday, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

CNK has been the subject of a number of other reports. Benchmark reissued a buy rating and issued a $23.00 price objective on shares of Cinemark in a research note on Monday, July 1st. Roth Capital raised Cinemark from a hold rating to a strong-buy rating in a research note on Monday, June 24th. StockNews.com upgraded Cinemark from a sell rating to a hold rating in a report on Monday. Macquarie boosted their price objective on shares of Cinemark from $21.00 to $24.00 and gave the company an outperform rating in a research report on Tuesday, July 9th. Finally, Wedbush raised their target price on shares of Cinemark from $28.00 to $31.00 and gave the stock an outperform rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cinemark presently has a consensus rating of Moderate Buy and a consensus target price of $27.70.

Cinemark Price Performance

Shares of Cinemark stock traded up $0.65 during trading on Thursday, reaching $29.28. 581,966 shares of the stock traded hands, compared to its average volume of 2,876,050. 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 capitalization of $3.58 billion, a price-to-earnings ratio of 29.51, a P/E/G ratio of 1.94 and a beta of 2.36. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.63. The business has a fifty day simple moving average of $27.42 and a two-hundred day simple moving average of $21.97.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.25. The business 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%. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. Sell-side analysts expect that Cinemark will post 1.41 EPS for the current year.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction 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 sale, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

A number of hedge funds have recently made changes to their positions in CNK. Third Point LLC purchased a new stake in shares of Cinemark during the first quarter valued at about $89,850,000. Steadfast Capital Management LP purchased a new stake in Cinemark during the first quarter valued at approximately $29,323,000. Jericho Capital Asset Management L.P. acquired a new stake in Cinemark in the first quarter valued at approximately $15,975,000. Nut Tree Capital Management LP purchased a new position in Cinemark in the first quarter worth $13,250,000. Finally, Park West Asset Management LLC increased its position in shares of Cinemark by 34.3% during the fourth quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after purchasing an additional 300,000 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.