Cinemark (NYSE:CNK) Shares Down 3.6% – Here’s What Happened

Shares of Cinemark Holdings, Inc. (NYSE:CNK) were down 3.6% on Monday . The stock traded as low as $29.61 and last traded at $29.94. Approximately 142,236 shares traded hands during trading, a decline of 90% from the average daily volume of 1,485,832 shares. The stock had previously closed at $31.06.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CNK shares. Wells Fargo & Company increased their price objective on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price target on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Thursday, October 31st. Morgan Stanley lifted their price objective on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Benchmark raised their price target on shares of Cinemark from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

Cinemark Trading Down 1.8 %

The company has a market cap of $3.73 billion, a PE ratio of 19.68, a PEG ratio of 1.66 and a beta of 2.40. The company has a 50 day simple moving average of $32.06 and a two-hundred day simple moving average of $27.81. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.58 by $0.61. The business had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. Sell-side analysts forecast that Cinemark Holdings, Inc. will post 2 EPS for the current year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Arizona State Retirement System grew its position in Cinemark by 1.8% in the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock valued at $662,000 after acquiring an additional 556 shares during the period. Natixis Advisors LLC grew its holdings in shares of Cinemark by 2.9% during the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after purchasing an additional 583 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares during the last quarter. GAMMA Investing LLC increased its position in Cinemark by 44.9% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $91,000 after purchasing an additional 906 shares during the period. Finally, Quarry LP increased its position in Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 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.