B. Riley Cuts Cinemark (NYSE:CNK) Price Target to $29.00

Cinemark (NYSE:CNK) had its target price lowered by B. Riley from $35.00 to $29.00 in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a neutral rating on the stock.

CNK has been the subject of several other reports. Roth Mkm reissued a “buy” rating and set a $35.00 price objective on shares of Cinemark in a research note on Wednesday, November 5th. Benchmark reiterated a “buy” rating on shares of Cinemark in a report on Thursday, January 15th. Morgan Stanley restated an “equal weight” rating and set a $28.00 price target (down from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. JPMorgan Chase & Co. reduced their price objective on Cinemark from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Wells Fargo & Company dropped their target price on shares of Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $33.17.

Cinemark Trading Down 0.7%

NYSE CNK opened at $23.96 on Thursday. The company has a market cap of $2.81 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.38 and a beta of 1.10. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. The company has a 50-day moving average of $24.58 and a 200-day moving average of $26.40.

Cinemark (NYSE:CNK) last released its earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The company had revenue of $857.50 million during the quarter, compared to analyst estimates of $851.47 million. During the same period in the prior year, the business posted $1.19 earnings per share. Cinemark’s revenue was down 7.0% on a year-over-year basis. As a group, equities analysts predict that Cinemark will post 1.93 earnings per share for the current year.

Cinemark Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.09 dividend. The ex-dividend date was Friday, November 28th. This is an increase from Cinemark’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. Cinemark’s dividend payout ratio is currently 34.62%.

Insider Buying and Selling at Cinemark

In other news, EVP Melissa Thomas sold 22,082 shares of Cinemark stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total transaction of $547,854.42. Following the transaction, the executive vice president owned 167,360 shares in the company, valued at approximately $4,152,201.60. The trade was a 11.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Cinemark

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP increased its holdings in shares of Cinemark by 758.9% during the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after acquiring an additional 3,973,689 shares during the last quarter. Woodline Partners LP bought a new stake in Cinemark during the third quarter worth approximately $33,390,000. Squarepoint Ops LLC boosted its position in Cinemark by 119.9% during the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock worth $65,808,000 after purchasing an additional 1,188,709 shares during the period. Man Group plc acquired a new position in Cinemark during the second quarter valued at approximately $33,953,000. Finally, SG Americas Securities LLC raised its position in shares of Cinemark by 102.4% in the third quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $680,000 after purchasing an additional 1,023,333 shares during the period.

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.