Cinemark (NYSE:CNK) Given Overweight Rating at Wells Fargo & Company

Cinemark (NYSE:CNK)‘s stock had its “overweight” rating restated by analysts at Wells Fargo & Company in a research report issued on Monday, Marketbeat.com reports. They presently have a $33.00 price objective on the stock, down from their prior price objective of $36.00. Wells Fargo & Company‘s price target points to a potential upside of 31.72% from the stock’s previous close.

Several other brokerages have also recently issued reports on CNK. B. Riley assumed coverage on Cinemark in a research note on Friday, May 16th. They set a “neutral” rating and a $35.00 price objective on the stock. Barrington Research reiterated an “outperform” rating and set a $36.00 target price on shares of Cinemark in a research note on Monday, May 5th. Wedbush raised shares of Cinemark from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $32.00 to $37.00 in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Cinemark in a research note on Thursday, July 10th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Wall Street Zen cut Cinemark from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

Cinemark Trading Up 0.5%

Cinemark stock traded up $0.13 during midday trading on Monday, reaching $25.05. The stock had a trading volume of 219,058 shares, compared to its average volume of 3,867,357. The stock has a market capitalization of $2.88 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 2.42 and a beta of 1.90. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.76 and a current ratio of 0.91. Cinemark has a twelve month low of $23.12 and a twelve month high of $36.28. The stock’s 50-day simple moving average is $30.22 and its 200 day simple moving average is $28.99.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The firm had revenue of $940.50 million during the quarter, compared to analysts’ expectations of $942.14 million. During the same quarter last year, the company posted $0.32 earnings per share. Cinemark’s revenue for the quarter was up 28.1% compared to the same quarter last year. Analysts expect that Cinemark will post 1.93 EPS for the current year.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction that occurred on 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 owned 210,968 shares in the company, valued at $6,630,724.24. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanda Marie Gierhart sold 52,524 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the transaction, the insider directly owned 94,890 shares in the company, valued at $3,022,246.50. The trade was a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,724 shares of company stock valued at $2,724,435 over the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Trading of Cinemark

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its stake in shares of Cinemark by 3.2% during the second quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock worth $510,000 after buying an additional 521 shares during the last quarter. LPL Financial LLC raised its position in shares of Cinemark by 6.8% during the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock valued at $270,000 after acquiring an additional 556 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Cinemark by 3.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock valued at $504,000 after purchasing an additional 591 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Cinemark by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock worth $358,000 after purchasing an additional 618 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company’s stock worth $65,000 after purchasing an additional 623 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.