Credit Suisse Group began coverage on shares of Cinemark (NYSE:CNK) in a research report released on Friday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $43.00 price target on the stock.
Several other research analysts have also issued reports on CNK. ValuEngine raised Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 1st. Loop Capital reaffirmed a hold rating on shares of AMC Entertainment in a research report on Wednesday, July 3rd. MKM Partners lowered their target price on Cinemark to $43.00 and set a buy rating for the company in a research report on Monday, July 15th. Finally, Wedbush set a $13.00 target price on SLM and gave the stock a buy rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $44.40.
NYSE CNK opened at $36.94 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.80 and a current ratio of 0.83. Cinemark has a twelve month low of $34.03 and a twelve month high of $43.51. The firm has a market cap of $4.35 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.73. The firm’s fifty day moving average price is $37.31.
The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Friday, June 7th. Cinemark’s dividend payout ratio is currently 74.32%.
In other news, insider Valmir Fernandes sold 4,033 shares of Cinemark stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $43.00, for a total value of $173,419.00. Following the completion of the transaction, the insider now directly owns 114,961 shares of the company’s stock, valued at approximately $4,943,323. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.00% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of CNK. Hamlin Capital Management LLC increased its position in Cinemark by 0.8% in the 2nd quarter. Hamlin Capital Management LLC now owns 2,110,935 shares of the company’s stock valued at $76,205,000 after buying an additional 16,189 shares in the last quarter. Davy Asset Management Ltd bought a new stake in Cinemark in the 2nd quarter valued at about $751,000. Bessemer Group Inc. increased its position in Cinemark by 10.1% in the 2nd quarter. Bessemer Group Inc. now owns 116,881 shares of the company’s stock valued at $4,219,000 after buying an additional 10,758 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Cinemark by 7.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 7,616 shares of the company’s stock valued at $274,000 after buying an additional 518 shares in the last quarter. Finally, Machina Capital S.A.S. increased its position in Cinemark by 569.4% in the 2nd quarter. Machina Capital S.A.S. now owns 4,686 shares of the company’s stock valued at $169,000 after buying an additional 3,986 shares in the last quarter. 98.19% of the stock is owned by hedge funds and other institutional investors.
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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