Cinemark (NYSE:CNK) Downgraded to “Neutral” at B. Riley

B. Riley downgraded shares of Cinemark (NYSE:CNK) from a buy rating to a neutral rating in a research note released on Tuesday morning, Marketbeat reports. B. Riley currently has $31.00 price objective on the stock.

A number of other analysts have also commented on the stock. Wedbush reiterated an outperform rating and issued a $25.00 price target on shares of Cinemark in a research note on Monday, July 29th. Roth Capital upgraded shares of Cinemark from a hold rating to a strong-buy rating in a research report on Monday, June 24th. Benchmark reaffirmed a buy rating and issued a $23.00 price objective on shares of Cinemark in a research note on Monday, July 1st. Roth Mkm upped their target price on shares of Cinemark from $28.00 to $30.00 and gave the company a buy rating in a research report on Monday, August 5th. Finally, Macquarie increased their price objective on shares of Cinemark from $21.00 to $24.00 and gave the stock an outperform rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cinemark currently has an average rating of Moderate Buy and a consensus target price of $24.60.

Cinemark Price Performance

CNK opened at $27.38 on Tuesday. Cinemark has a 12-month low of $13.19 and a 12-month high of $28.43. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 2.14 and a beta of 2.36. 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 stock has a fifty day simple moving average of $23.84 and a two-hundred day simple moving average of $19.83.

Cinemark (NYSE:CNK) last released its earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.07 by $0.25. The business had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 earnings per share. Research analysts predict that Cinemark will post 1.08 earnings per share for the current fiscal year.

Insider Transactions at Cinemark

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 shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC acquired a new position in Cinemark during the second quarter worth $238,000. Susquehanna Fundamental Investments LLC grew its stake in Cinemark by 5.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 108,988 shares of the company’s stock worth $2,356,000 after acquiring an additional 5,199 shares during the period. Luxor Capital Group LP increased its stake in shares of Cinemark by 491.0% during the 2nd quarter. Luxor Capital Group LP now owns 99,295 shares of the company’s stock valued at $2,147,000 after acquiring an additional 82,493 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Cinemark by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 62,287 shares of the company’s stock worth $1,347,000 after purchasing an additional 2,603 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new position in shares of Cinemark in the 2nd quarter worth $2,253,000.

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.