Cinemark (NYSE:CNK) Reaches New 52-Week High – Here’s What Happened

Shares of Cinemark Holdings, Inc. (NYSE:CNK) hit a new 52-week high during trading on Tuesday . The stock traded as high as $33.44 and last traded at $33.44, with a volume of 1822268 shares. The stock had previously closed at $31.99.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNK. JPMorgan Chase & Co. lifted their target price on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Macquarie lifted their price objective on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wedbush cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. The Goldman Sachs Group lifted their price objective on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Finally, StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.80.

Cinemark Stock Up 4.6 %

The company has a market capitalization of $4.09 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 1.60 and a beta of 2.35. 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 firm’s fifty day moving average is $29.02 and its 200-day moving average is $24.29.

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

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the sale, the insider now directly owns 179,729 shares of the company’s stock, valued at $5,873,543.72. The trade was a 12.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Institutional investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP grew its holdings in Cinemark by 198.9% during the 3rd quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock worth $1,375,000 after acquiring an additional 32,870 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Cinemark by 38.1% in the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after purchasing an additional 31,739 shares during the last quarter. PEAK6 Investments LLC bought a new stake in shares of Cinemark in the 1st quarter valued at $2,274,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Cinemark by 18.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock valued at $14,629,000 after purchasing an additional 103,875 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Cinemark in the 3rd quarter valued at $1,960,000.

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.