Wedbush Reiterates a Hold Rating on Cinemark Holdings Inc

By Austin Angelo

Wedbush analyst Michael Pachter reiterated a Hold rating on Cinemark Holdings Inc (NYSE: CNK) yesterday and set a price target of $40. The company’s shares closed yesterday at $40.29, close to its 52-week high of $40.99.

According to TipRanks.com, Pachter is ranked 0 out of 5 stars with an average return of -4.1% and a 47.0% success rate. Pachter covers the Services sector, focusing on stocks such as Regal Entertainment, AMC Entertainment, and Carmike Cinemas.

Cinemark Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $44.25.

The company has a one year high of $40.99 and a one year low of $26.56. Currently, Cinemark Holdings Inc has an average volume of 561.7K.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2016, Valmir Fernandes, the Pr – Cinemark International of CNK sold 17,983 shares for a total of $643,432.

Cinemark Holdings, Inc. is a holding company which, operates through its subsidiaries in the motion picture exhibition industry. The company operates its multiplex theaters in smaller cities and suburban areas of major metropolitan markets. It operates its business in two segments: International Markets and U.S. Markets. The International Markets segment consists of operations in Brazil, Mexico, Chile, Colombia, Argentina, Ecuador, Peru, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala. The U.S. Markets segment includes U.S. and Canada operations. It has introduced NextGen concept, which features wall-to-wall and ceiling-to-floor screens and the latest digital projection and sound technologies in all of the auditoriums of a complex. These theatres generally also have an XD auditorium. The company was founded by Lee Roy Mitchell in 1984 and is headquartered in Plano, TX.