Cinemark (NYSE:CNK) Rating Lowered to Sell at Wall Street Zen

Cinemark (NYSE:CNK) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

CNK has been the topic of a number of other research reports. Macquarie lowered their price objective on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. B. Riley lowered their price target on Cinemark from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Barrington Research dropped their price objective on Cinemark from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Monday, January 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 target price (down previously from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 29th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Cinemark Price Performance

Shares of CNK opened at $23.65 on Friday. Cinemark has a one year low of $21.60 and a one year high of $34.01. The stock’s fifty day moving average is $23.95 and its 200-day moving average is $26.21. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.72 and a current ratio of 0.76. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10.

Cinemark (NYSE:CNK) last announced its earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The company had revenue of $857.50 million during the quarter, compared to the consensus estimate of $851.47 million. During the same quarter in the prior year, the company earned $1.19 EPS. The business’s quarterly revenue was down 7.0% on a year-over-year basis. Equities analysts anticipate that Cinemark will post 1.93 EPS for the current year.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total value of $547,854.42. Following the completion of the transaction, the executive vice president directly owned 167,360 shares in the company, valued at $4,152,201.60. This trade represents a 11.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently made changes to their positions in CNK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cinemark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock worth $1,635,000 after purchasing an additional 2,872 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Cinemark in the first quarter worth $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Cinemark by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after buying an additional 25,490 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Cinemark during the first quarter valued at $372,000. Finally, State of Alaska Department of Revenue lifted its stake in Cinemark by 1.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 60,062 shares of the company’s stock worth $1,812,000 after acquiring an additional 892 shares in the last quarter.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.