Cinemark (NYSE:CNK) Downgraded by Wall Street Zen to Sell

Cinemark (NYSE:CNK) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price target on Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 29th. Zacks Research downgraded shares of Cinemark from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. B. Riley dropped their price target on shares of Cinemark from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Finally, Barrington Research reduced their price objective on shares of Cinemark from $36.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.83.

Cinemark Trading Up 1.8%

Shares of NYSE:CNK opened at $23.65 on Friday. The firm has a fifty day moving average of $23.95 and a two-hundred day moving average of $26.21. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 5.01. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.01. The firm has a market capitalization of $2.78 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 2.30 and a beta of 1.10.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $857.50 million for the quarter, compared to analysts’ expectations of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.Cinemark’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. On average, equities analysts expect that Cinemark will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total transaction of $547,854.42. Following the completion of the transaction, the executive vice president owned 167,360 shares of the company’s stock, valued at $4,152,201.60. The trade was a 11.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently made changes to their positions in CNK. EverSource Wealth Advisors LLC boosted its stake in Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Cinemark in the 2nd quarter worth approximately $47,000. Financial Consulate Inc. acquired a new position in shares of Cinemark during the third quarter worth approximately $50,000. Meeder Asset Management Inc. bought a new stake in shares of Cinemark in the third quarter valued at approximately $63,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after acquiring an additional 506 shares during the last quarter.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.