Cinemark Holdings, Inc. (NYSE:CNK) Insider Sells $825,250.00 in Stock

Cinemark Holdings, Inc. (NYSE:CNK) insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the transaction, the insider now owns 130,612 shares in the company, valued at approximately $4,311,502.12. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cinemark Trading Up 2.4%

CNK opened at $33.76 on Friday. The firm has a market capitalization of $3.88 billion, a P/E ratio of 16.63 and a beta of 1.91. The firm’s 50 day moving average is $29.00 and its 200-day moving average is $29.59. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28.

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, meeting analysts’ consensus estimates of ($0.32). The company had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. Analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.95%. Cinemark’s dividend payout ratio is currently 21.05%.

Institutional Trading of Cinemark

Hedge funds have recently made changes to their positions in the company. Elequin Capital LP raised its stake in shares of Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after purchasing an additional 677 shares during the period. Russell Investments Group Ltd. grew its position in shares of Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after buying an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after buying an additional 1,501 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Cinemark during the fourth quarter worth approximately $63,000. Finally, Quarry LP grew its position in shares of Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock worth $65,000 after buying an additional 623 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on CNK shares. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Macquarie restated an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. Morgan Stanley cut their price target on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Barrington Research restated an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a report on Monday, May 5th. Finally, Benchmark cut their price target on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.20.

Cinemark Company Profile

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.