Cinemark (NYSE:CNK) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Cinemark (NYSE:CNK) from a sell rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “CINEMARK HOLDINGS Is a leader in the motion picture exhibition industry.Cinemark operates 408 theatres and 4,657 screens in 38 states in the United States and internationally in 12 countries, mainly in Mexico, South and Central America. “

Several other brokerages have also weighed in on CNK. B. Riley raised Cinemark from a neutral rating to a buy rating and increased their price objective for the company from $14.00 to $28.00 in a report on Friday, January 15th. Barrington Research raised Cinemark from a market perform rating to an outperform rating in a report on Monday, November 9th. Moffett Nathanson lifted their price objective on Cinemark from $12.00 to $14.00 in a research note on Friday, January 15th. The Goldman Sachs Group lifted their price objective on Cinemark from $11.00 to $16.00 and gave the company a neutral rating in a research note on Monday, January 25th. Finally, Loop Capital downgraded Cinemark from a buy rating to a hold rating in a research report on Thursday, November 19th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Cinemark has a consensus rating of Hold and an average target price of $18.15.

Shares of CNK opened at $23.21 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.55 and a debt-to-equity ratio of 2.45. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -7.76 and a beta of 2.61. The stock has a 50 day moving average of $19.54 and a 200 day moving average of $14.41. Cinemark has a 12 month low of $5.71 and a 12 month high of $29.17.

In other Cinemark news, insider Valmir Fernandes sold 15,000 shares of the business’s stock in a transaction on Friday, December 18th. The shares were sold at an average price of $16.38, for a total transaction of $245,700.00. Following the completion of the sale, the insider now directly owns 144,268 shares in the company, valued at approximately $2,363,109.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Cavalier sold 2,500 shares of the company’s stock in a transaction on Friday, December 18th. The stock was sold at an average price of $16.78, for a total value of $41,950.00. Following the completion of the sale, the executive vice president now owns 243,308 shares of the company’s stock, valued at $4,082,708.24. The disclosure for this sale can be found here. 9.39% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Aequim Alternative Investments LP increased its stake in shares of Cinemark by 1,456.4% in the 4th quarter. Aequim Alternative Investments LP now owns 7,212,500 shares of the company’s stock worth $1,655,000 after purchasing an additional 6,749,100 shares in the last quarter. Polaris Capital Management LLC boosted its holdings in Cinemark by 10,427.2% in the 4th quarter. Polaris Capital Management LLC now owns 3,311,658 shares of the company’s stock worth $57,656,000 after buying an additional 3,280,200 shares during the period. JPMorgan Chase & Co. boosted its holdings in Cinemark by 65.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,641,167 shares of the company’s stock worth $16,166,000 after buying an additional 651,644 shares during the period. Advisors Capital Management LLC bought a new position in Cinemark in the 4th quarter worth $26,030,000. Finally, Victory Capital Management Inc. boosted its holdings in Cinemark by 361.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,333,755 shares of the company’s stock worth $13,337,000 after buying an additional 1,044,608 shares during the period. Hedge funds and other institutional investors own 81.40% of the company’s stock.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 10, 2020, it operated 548 theatres with 6,082 screens in 41 states of the United States, Brazil, and Argentina, as well as 13 other Latin American countries. The company was founded in 1984 and is headquartered in Plano, Texas.

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