Cinemark (NYSE:CNK) Stock Price Up 2.8%

Shares of Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) rose 2.8% during trading on Tuesday . The stock traded as high as $18.18 and last traded at $18.18. Approximately 470,289 shares changed hands during trading, a decline of 85% from the average daily volume of 3,135,394 shares. The stock had previously closed at $17.68.

Analyst Upgrades and Downgrades

CNK has been the subject of several recent analyst reports. Wedbush reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Cinemark in a research report on Tuesday, February 13th. Roth Mkm lifted their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Benchmark reaffirmed a "buy" rating and set a $22.00 price objective on shares of Cinemark in a report on Wednesday, April 10th. Finally, Wells Fargo & Company raised shares of Cinemark from an "underweight" rating to an "overweight" rating and lifted their price objective for the stock from $13.00 to $23.00 in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $19.56.

Cinemark Stock Up 2.5 %

The company has a market capitalization of $2.20 billion, a P/E ratio of 14.82, a PEG ratio of 2.22 and a beta of 2.27. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.42 and a current ratio of 1.45. The stock has a 50 day moving average price of $17.33 and a 200 day moving average price of $15.87.

Cinemark (NYSE:CNK - Get Free Report) last released its earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The business had revenue of $638.90 million for the quarter, compared to the consensus estimate of $619.67 million. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. The company's revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts forecast that Cinemark Holdings, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the sale, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cinemark

Several hedge funds and other institutional investors have recently modified their holdings of CNK. Royal London Asset Management Ltd. bought a new stake in shares of Cinemark during the fourth quarter valued at about $19,906,000. Hennessy Advisors Inc. bought a new stake in shares of Cinemark during the fourth quarter valued at about $16,001,000. Norges Bank bought a new stake in shares of Cinemark during the fourth quarter valued at about $8,659,000. Renaissance Technologies LLC grew its holdings in shares of Cinemark by 241.0% during the first quarter. Renaissance Technologies LLC now owns 1,334,400 shares of the company's stock worth $23,058,000 after purchasing an additional 943,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cinemark by 85.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,714,344 shares of the company's stock worth $29,624,000 after purchasing an additional 789,200 shares in 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.