Cinemark (NYSE:CNK) Stock Price Down 3.6% – Should You Sell?

Cinemark Holdings, Inc. (NYSE:CNK)’s share price was down 3.6% on Monday . The company traded as low as $29.61 and last traded at $29.94. Approximately 142,236 shares changed hands during mid-day 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 equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their target price on Cinemark from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Macquarie increased their price target on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Stock Down 0.7 %

The firm has a market cap of $3.72 billion, a PE ratio of 19.61, a PEG ratio of 1.66 and a beta of 2.40. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The company’s 50-day simple moving average is $32.10 and its two-hundred day simple moving average is $28.02.

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

Insider Transactions at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now owns 179,729 shares in the company, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

A number of hedge funds have recently made changes to their positions in the stock. Maverick Capital Ltd. increased its position in Cinemark by 1,356.4% during the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after buying an additional 1,413,557 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Cinemark by 1,532.5% during the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock valued at $18,102,000 after acquiring an additional 610,398 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Cinemark in the 3rd quarter worth about $12,133,000. Castellan Group bought a new position in Cinemark in the 3rd quarter worth about $6,130,000. Finally, Dimensional Fund Advisors LP grew its position in Cinemark by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after purchasing an additional 148,076 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.