Cinemark (NYSE:CNK) Shares Down 3.6%

Cinemark Holdings, Inc. (NYSE:CNK)’s share price fell 3.6% on Monday . The company traded as low as $17.02 and last traded at $17.09. 314,915 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 3,054,487 shares. The stock had previously closed at $17.72.

Wall Street Analysts Forecast Growth

CNK has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research note on Thursday, January 11th. B. Riley increased their target price on Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Benchmark reiterated a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research note on Friday, May 3rd. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $13.00 to $23.00 in a report on Friday, April 5th. Finally, Roth Mkm boosted their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.33.

Cinemark Price Performance

The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 2.06 and a beta of 2.25. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The company’s 50-day simple moving average is $17.94 and its 200-day simple moving average is $15.86.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. The company had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. Cinemark’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Research analysts forecast that Cinemark Holdings, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total value of $328,182.75. Following the completion of the transaction, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.30% of the stock is owned by insiders.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. grew its position in shares of Cinemark by 17.2% in the 4th 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 last quarter. Virtu Financial LLC acquired a new position in shares of Cinemark in the fourth quarter worth approximately $192,000. DekaBank Deutsche Girozentrale bought a new stake in Cinemark in the third quarter valued at approximately $193,000. Mackenzie Financial Corp acquired a new stake in Cinemark during the 4th quarter valued at approximately $210,000. Finally, Watershed Asset Management L.L.C. raised its holdings in Cinemark by 6.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after purchasing an additional 915 shares during 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.