Cinemark (NYSE:CNK) Trading 6.8% Higher – Time to Buy?

Shares of Cinemark Holdings Inc (NYSE:CNK) rose 6.8% during trading on Friday . The company traded as high as $28.63 and last traded at $28.5460. Approximately 877,406 shares changed hands during trading, a decline of 68% from the average daily volume of 2,742,879 shares. The stock had previously closed at $26.72.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CNK shares. Zacks Research lowered shares of Cinemark from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock 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. Wall Street Zen upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, The Goldman Sachs Group restated a “sell” rating and set a $22.00 price target on shares of Cinemark in a research note on Thursday, February 19th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.08.

Cinemark Stock Up 5.7%

The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74. The business’s fifty day moving average price is $24.31 and its 200 day moving average price is $25.94. The company has a market capitalization of $3.26 billion, a P/E ratio of 32.45 and a beta of 1.13.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $776.30 million during the quarter, compared to the consensus estimate of $778.41 million. Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. As a group, equities research analysts predict that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. Cinemark’s dividend payout ratio is presently 41.38%.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 22,082 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total value of $547,854.42. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

About Cinemark

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.