B. Riley Initiates Coverage on Cinemark (NYSE:CNK)

Equities researchers at B. Riley started coverage on shares of Cinemark (NYSE:CNK) in a research note issued to investors on Friday. The brokerage set a “neutral” rating and a $35.00 price target on the stock. B. Riley’s price objective would indicate a potential upside of 9.99% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Macquarie reiterated an “outperform” rating and set a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on Cinemark from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Wells Fargo & Company reduced their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Barrington Research restated an “outperform” rating and set a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. Finally, Wedbush reiterated a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.20.

Cinemark Price Performance

Shares of NYSE CNK opened at $31.82 on Friday. The stock has a fifty day moving average price of $27.67 and a 200 day moving average price of $29.47. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The company has a market cap of $3.66 billion, a PE ratio of 15.67 and a beta of 1.91.

Cinemark (NYSE:CNK) last released its earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). The company had revenue of $540.70 million during the quarter, compared to analysts’ expectations of $604.62 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. Sell-side analysts forecast that Cinemark will post 1.93 EPS for the current year.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the sale, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total value of $226,296.00. Following the sale, the executive vice president now directly owns 210,968 shares in the company, valued at approximately $6,630,724.24. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNK. Elequin Capital LP raised its position in shares of Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after buying an additional 677 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Cinemark by 402.4% during the fourth 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% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after purchasing an additional 1,501 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Cinemark in the fourth quarter valued at $63,000. Finally, Quarry LP lifted its position in Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock worth $65,000 after buying an additional 623 shares during the period.

About Cinemark

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.