Cinemark Holdings, Inc. (NYSE:CNK – Get Rating)’s share price was down 4.5% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $9.27 and last traded at $9.27. Approximately 62,325 shares changed hands during trading, a decline of 98% from the average daily volume of 2,733,993 shares. The stock had previously closed at $9.71.Specifically, Director Enrique Senior sold 35,054 shares of Cinemark stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $12.47, for a total value of $437,123.38. Following the sale, the director now directly owns 46,609 shares of the company’s stock, valued at $581,214.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.00% of the stock is currently owned by insiders.
Analysts Set New Price Targets
CNK has been the subject of a number of recent research reports. Credit Suisse Group downgraded shares of Cinemark from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $25.00 to $9.00 in a report on Wednesday, October 12th. JPMorgan Chase & Co. lowered their price objective on Cinemark from $19.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, October 10th. The Goldman Sachs Group cut their target price on Cinemark from $12.50 to $11.00 and set a “sell” rating for the company in a research note on Tuesday, October 11th. StockNews.com initiated coverage on shares of Cinemark in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Benchmark cut their price objective on shares of Cinemark from $27.00 to $22.00 in a research report on Wednesday, October 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.44.
Cinemark Stock Down 4.5 %
The business has a 50 day simple moving average of $11.62 and a 200 day simple moving average of $13.99. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -7.04 and a beta of 2.07. The company has a debt-to-equity ratio of 12.49, a current ratio of 1.27 and a quick ratio of 1.24.
Cinemark (NYSE:CNK – Get Rating) last posted its quarterly earnings data on Friday, November 4th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01. Cinemark had a negative return on equity of 27.93% and a negative net margin of 6.59%. The firm had revenue of $650.40 million for the quarter, compared to the consensus estimate of $616.20 million. As a group, equities analysts predict that Cinemark Holdings, Inc. will post -1.45 earnings per share for the current fiscal year.
Institutional Trading of Cinemark
Hedge funds have recently made changes to their positions in the business. Elequin Capital LP acquired a new position in shares of Cinemark in the first quarter valued at approximately $25,000. Captrust Financial Advisors raised its stake in shares of Cinemark by 107.2% in the second quarter. Captrust Financial Advisors now owns 4,783 shares of the company’s stock valued at $72,000 after acquiring an additional 2,475 shares in the last quarter. KBC Group NV purchased a new position in Cinemark in the second quarter valued at $137,000. Nisa Investment Advisors LLC grew its stake in Cinemark by 17.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,860 shares of the company’s stock worth $148,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Cinemark during the 1st quarter worth about $173,000. Institutional investors and hedge funds own 96.54% of the company’s stock.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.