Benchmark Reaffirms "Buy" Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Benchmark in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $35.00 price target on the stock. Benchmark's price target suggests a potential upside of 13.97% from the company's current price.

CNK has been the subject of several other reports. Barrington Research reissued an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a report on Monday, May 5th. Wedbush reissued a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. JPMorgan Chase & Co. boosted their price objective on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, B. Riley began coverage on shares of Cinemark in a report on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.20.

Cinemark Stock Up 1.8%

Shares of NYSE CNK traded up $0.53 during midday trading on Wednesday, hitting $30.71. The stock had a trading volume of 3,558,116 shares, compared to its average volume of 3,173,965. The business's 50 day moving average is $31.42 and its 200-day moving average is $29.26. The company has a market cap of $3.53 billion, a P/E ratio of 20.20, a PEG ratio of 1.84 and a beta of 1.88. Cinemark has a 52 week low of $20.43 and a 52 week high of $36.28. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.53.

Cinemark (NYSE:CNK - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.32). The firm had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a net margin of 8.17% and a return on equity of 51.68%. The business's revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. As a group, analysts predict that Cinemark will post 1.93 EPS for the current year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the sale, the insider directly owned 130,612 shares of the company's stock, valued at $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction 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 sale, the executive vice president directly owned 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,724 shares of company stock valued at $2,724,435 over the last three months. Corporate insiders own 2.10% of the company's stock.

Institutional Trading of Cinemark

Hedge funds and other institutional investors have recently modified their holdings of the company. Elequin Capital LP increased its stake in shares of Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after purchasing an additional 677 shares in the last quarter. Russell Investments Group Ltd. boosted its position 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 acquiring an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position 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 acquiring an additional 1,501 shares during the last quarter. Quarry LP boosted its position in shares of Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after acquiring an additional 623 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Cinemark by 198.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock worth $103,000 after acquiring an additional 2,207 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.