Cinemark (NYSE:CNK) Rating Increased to Hold at B. Riley

B. Riley upgraded shares of Cinemark (NYSE:CNK) to a hold rating in a research note released on Thursday,Zacks.com reports.

CNK has been the topic of a number of other research reports. Barrington Research reiterated an “outperform” rating and issued a $36.00 price objective on shares of Cinemark in a report on Monday, May 5th. Morgan Stanley cut their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Wedbush reiterated a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. Wells Fargo & Company cut their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, Macquarie restated an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.20.

Cinemark Stock Down 0.2%

Shares of Cinemark stock opened at $31.82 on Thursday. The company has a fifty day moving average price of $27.51 and a 200 day moving average price of $29.46. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. Cinemark has a twelve month low of $16.32 and a twelve month high of $36.28. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 15.67 and a beta of 1.91.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. During the same quarter in the previous year, the business posted $0.19 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. Equities research analysts forecast that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 1.01%. Cinemark’s dividend payout ratio (DPR) is 21.05%.

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now owns 147,414 shares in the company, valued at $3,980,178. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Melissa Thomas sold 7,200 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $31.43, for a total transaction of $226,296.00. Following the completion of the transaction, the executive vice president now owns 210,968 shares of the company’s stock, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Elequin Capital LP grew its position in Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after purchasing an additional 677 shares during the last quarter. Russell Investments Group Ltd. grew its position in Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after purchasing an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after acquiring an additional 1,501 shares in the last quarter. R Squared Ltd bought a new position in shares of Cinemark in the fourth quarter valued at approximately $63,000. Finally, Quarry LP boosted its holdings in shares of Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock valued at $65,000 after acquiring an additional 623 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.