Cinemark (NYSE:CNK) Downgraded by Barrington Research

Cinemark (NYSE:CNK) was downgraded by equities researchers at Barrington Research from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, Briefing.com reports.

Other analysts have also recently issued research reports about the company. Roth Capital upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. Roth Mkm increased their price objective on shares of Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Macquarie upped their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Finally, Morgan Stanley lifted their price target on shares of Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.60.

Cinemark Trading Up 0.0 %

Shares of Cinemark stock opened at $28.18 on Wednesday. The company’s fifty day simple moving average is $23.36 and its 200-day simple moving average is $19.63. Cinemark has a 1-year low of $13.19 and a 1-year high of $28.43. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The stock has a market capitalization of $3.45 billion, a PE ratio of 19.43, a P/E/G ratio of 2.14 and a beta of 2.36.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same quarter in the prior year, the firm posted $0.80 EPS. Cinemark’s quarterly revenue was down 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that Cinemark will post 1.08 earnings per share for the current year.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. NBC Securities Inc. lifted its stake in Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after purchasing an additional 700 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Cinemark during the 2nd quarter valued at $79,000. Fifth Third Bancorp boosted its holdings in Cinemark by 414.4% during the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock valued at $97,000 after acquiring an additional 3,609 shares during the period. Finally, Point72 DIFC Ltd bought a new position in Cinemark in the 2nd quarter valued at $144,000.

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.