Cinemark’s (CNK) “Buy” Rating Reiterated at Wedbush

Wedbush reissued their buy rating on shares of Cinemark (NYSE:CNK) in a report issued on Friday, TipRanks reports. They currently have a $20.00 price objective on the stock.

A number of other research analysts have also recently issued reports on CNK. Zacks Investment Research cut Cinemark from a hold rating to a sell rating in a report on Monday, March 23rd. Barrington Research reaffirmed a buy rating and issued a $20.00 price target on shares of Cinemark in a report on Thursday, April 16th. ValuEngine raised Cinemark from a sell rating to a hold rating in a report on Friday, April 17th. Credit Suisse Group dropped their price objective on Cinemark from $22.00 to $18.00 and set an outperform rating for the company in a report on Tuesday, March 24th. Finally, JPMorgan Chase & Co. cut Cinemark from an overweight rating to a neutral rating and dropped their price objective for the stock from $32.00 to $20.00 in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Cinemark presently has a consensus rating of Buy and an average target price of $23.33.

Cinemark stock opened at $15.62 on Friday. The stock has a 50-day simple moving average of $13.39 and a 200 day simple moving average of $24.17. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 2.17. Cinemark has a 12-month low of $5.71 and a 12-month high of $41.60. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 9.58 and a beta of 1.76.

In other news, Director Ximena G. Humrichouse sold 5,000 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $11.40, for a total transaction of $57,000.00. Following the completion of the transaction, the director now directly owns 21,045 shares in the company, valued at approximately $239,913. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lee Roy Mitchell bought 106,001 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were bought at an average price of $8.28 per share, with a total value of $877,688.28. Following the completion of the transaction, the director now directly owns 5,708,210 shares in the company, valued at approximately $47,263,978.80. The disclosure for this purchase can be found here. 9.39% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. State of Tennessee Treasury Department grew its position in shares of Cinemark by 10.3% in the 1st quarter. State of Tennessee Treasury Department now owns 57,603 shares of the company’s stock valued at $587,000 after purchasing an additional 5,387 shares during the period. Public Employees Retirement Association of Colorado grew its position in shares of Cinemark by 13.2% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 17,124 shares of the company’s stock valued at $174,000 after purchasing an additional 2,002 shares during the period. FDx Advisors Inc. acquired a new position in shares of Cinemark in the 1st quarter valued at approximately $80,000. Waddell & Reed Financial Inc. grew its position in shares of Cinemark by 72.9% in the 1st quarter. Waddell & Reed Financial Inc. now owns 1,183,808 shares of the company’s stock valued at $12,063,000 after purchasing an additional 499,068 shares during the period. Finally, Wexford Capital LP acquired a new position in shares of Cinemark in the 1st quarter valued at approximately $184,000. Institutional investors and hedge funds own 99.68% of the company’s stock.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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