10 Best Entertainment Stocks to Buy According to Billionaires

7. Cinemark Holdings, Inc. (NYSE:CNK)

Number of Billionaire Investors: 15

Number of Hedge Fund Holders: 50

Cinemark Holdings, Inc. (NYSE:CNK) is an American theatrical exhibition and out-of-home entertainment company. With approximately 500 theaters in 42 states in the US and 13 South and Central American countries, it operates one of the world’s largest movie theater chains. According to billionaires, Cinemark Holdings, Inc. (NYSE:CNK) is one of the best entertainment stocks to buy.

On March 6, Benchmark analysts reiterated a ‘Buy’ rating for Cinemark Holdings, Inc. (NYSE:CNK) with a price target of $35. The firm’s analysis indicated that the company can achieve pre-pandemic box office performance without fully returning to 2019 attendance levels because of a 20% rise in average ticket prices since 2019. According to Benchmark, this allows Cinemark Holdings, Inc. (NYSE:CNK) to match pre-pandemic admission revenues with only 79% of its 2019 attendance. Additionally, concession sales per patron (CPP) have surged by 48%. With a projected CPP of $7.89 for 2024, concession sales could exceed pre-pandemic levels by 20% even at 79% of the attendance levels from 2019. Benchmark analysts highlighted the importance of this shift towards higher-margin concession sales for Cinemark Holdings, Inc. (NYSE:CNK) as it presents a considerable opportunity for margin expansion. The firm’s positive outlook is also based on the assumption that the improving quality and volume of wide-release films will drive attendance recovery.