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

Cinemark (NYSE:CNK) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

CNK has been the subject of a number of other reports. Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of Cinemark in a research report on Monday, April 22nd. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. Benchmark reissued a “buy” rating and set a $23.00 target price on shares of Cinemark in a research report on Friday. The Goldman Sachs Group dropped 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. Finally, Wedbush reiterated an “outperform” rating and issued a $23.00 target price on shares of Cinemark in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.33.

Cinemark Trading Up 0.7 %

CNK stock traded up $0.12 during midday trading on Friday, reaching $17.72. The company’s stock had a trading volume of 3,420,745 shares, compared to its average volume of 3,087,853. The stock has a fifty day simple moving average of $17.91 and a two-hundred day simple moving average of $15.85. 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 firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 2.06 and a beta of 2.25. Cinemark has a 1 year low of $13.19 and a 1 year high of $20.40.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.40. Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The company had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. During the same period in the previous year, the company earned ($0.03) EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities research analysts predict that Cinemark will post 0.85 EPS for the current year.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, 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 is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Cinemark by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock valued at $254,046,000 after purchasing an additional 214,102 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Cinemark by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company’s stock worth $248,646,000 after acquiring an additional 232,619 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Cinemark by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock worth $36,195,000 after purchasing an additional 213,593 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in Cinemark by 14.1% during the first 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. Finally, Park West Asset Management LLC raised its stake in Cinemark by 34.3% during the 4th quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after acquiring 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.