Cinemark Holdings Inc. (CNK) Shares Gap Up to $36.72
Cinemark Holdings Inc. (NYSE:CNK) gapped up before the market opened on Thursday . The stock had previously closed at $36.48, but opened at $36.72. Cinemark Holdings shares last traded at $37.52, with a volume of 362,593 shares.
A number of equities research analysts recently weighed in on the stock. B. Riley raised shares of Cinemark Holdings from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $41.75 to $47.00 in a research note on Thursday. Credit Suisse Group AG set a $37.00 price objective on shares of Cinemark Holdings and gave the company a “hold” rating in a report on Monday, August 1st. MKM Partners boosted their price objective on shares of Cinemark Holdings from $40.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 25th. Wedbush restated a “neutral” rating and set a $40.00 price objective on shares of Cinemark Holdings in a report on Friday, July 15th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Cinemark Holdings in a report on Sunday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.72.
The stock has a market cap of $4.30 billion and a PE ratio of 18.63. The stock has a 50 day moving average of $36.40 and a 200-day moving average of $34.25.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $704.90 million for the quarter, compared to the consensus estimate of $698.06 million. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. On average, equities research analysts anticipate that Cinemark Holdings Inc. will post $1.95 EPS for the current fiscal year.
In other Cinemark Holdings news, insider Valmir Fernandes sold 17,983 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $35.78, for a total transaction of $643,431.74. Following the completion of the transaction, the insider now owns 79,645 shares in the company, valued at approximately $2,849,698.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in CNK. First Trust Advisors LP raised its position in Cinemark Holdings by 177.4% in the fourth quarter. First Trust Advisors LP now owns 98,237 shares of the company’s stock valued at $3,284,000 after buying an additional 62,824 shares during the last quarter. Hodges Capital Management Inc. raised its stake in Cinemark Holdings by 4.8% in the fourth quarter. Hodges Capital Management Inc. now owns 1,175,926 shares of the company’s stock valued at $39,311,000 after buying an additional 53,600 shares in the last quarter. Pear Tree Advisors Inc. bought a new stake in Cinemark Holdings during the fourth quarter valued at $1,611,000. Trexquant Investment LP raised its stake in Cinemark Holdings by 26.3% in the fourth quarter. Trexquant Investment LP now owns 79,698 shares of the company’s stock valued at $2,664,000 after buying an additional 16,585 shares in the last quarter. Finally, Atlantic Trust Group LLC raised its stake in Cinemark Holdings by 81.6% in the fourth quarter. Atlantic Trust Group LLC now owns 36,645 shares of the company’s stock valued at $1,225,000 after buying an additional 16,470 shares in the last quarter.
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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