Insider Selling: Cinemark Holdings, Inc. (NYSE:CNK) EVP Sells 7,200 Shares of Stock

Cinemark Holdings, Inc. (NYSE:CNK) EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total transaction of $226,296.00. Following the sale, the executive vice president now directly owns 210,968 shares of the company’s stock, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cinemark Stock Performance

NYSE CNK opened at $31.82 on Friday. The company has a fifty day simple moving average of $27.67 and a 200 day simple moving average of $29.47. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The company has a market cap of $3.66 billion, a P/E ratio of 15.67 and a beta of 1.91.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.32). The firm had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. Sell-side analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, May 29th. Cinemark’s dividend payout ratio is 21.05%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CNK shares. Wells Fargo & Company reduced their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Macquarie reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Benchmark reduced their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Barrington Research reissued an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.20.

Hedge Funds Weigh In On Cinemark

A number of hedge funds have recently bought and sold shares of CNK. Franklin Resources Inc. boosted its holdings in Cinemark by 6.8% during the 3rd quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock worth $1,651,000 after acquiring an additional 3,632 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Cinemark by 18.8% during the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after acquiring an additional 99,843 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Cinemark by 104.5% in the 4th quarter. Ritholtz Wealth Management now owns 35,953 shares of the company’s stock worth $1,114,000 after buying an additional 18,371 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Cinemark in the 4th quarter worth about $4,725,000. Finally, Hennessy Advisors Inc. boosted its holdings in shares of Cinemark by 13.8% in the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock worth $61,629,000 after buying an additional 241,600 shares during the last quarter.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.