Cinemark Holdings Inc $CNK Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 9.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,632,000 shares of the company’s stock after selling 180,100 shares during the quarter. Cinemark makes up about 1.6% of Hennessy Advisors Inc.’s holdings, making the stock its 10th largest position. Hennessy Advisors Inc. owned about 1.42% of Cinemark worth $49,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. raised its stake in shares of Cinemark by 3.2% during the 2nd quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock worth $510,000 after buying an additional 521 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Cinemark by 1.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 60,062 shares of the company’s stock worth $1,812,000 after buying an additional 892 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Cinemark during the 2nd quarter worth $247,000. GAMMA Investing LLC raised its stake in shares of Cinemark by 66.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,474 shares of the company’s stock worth $105,000 after buying an additional 1,384 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Cinemark by 106.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company’s stock worth $78,147,000 after buying an additional 1,338,153 shares during the last quarter.

Cinemark Stock Up 1.7%

CNK opened at $28.29 on Friday. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.99 and a beta of 1.75. The business has a 50-day moving average of $26.80 and a two-hundred day moving average of $28.69. Cinemark Holdings Inc has a 12 month low of $23.12 and a 12 month high of $36.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.15). The business had revenue of $940.50 million during the quarter, compared to analysts’ expectations of $942.14 million. Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. On average, research analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th were issued a $0.08 dividend. The ex-dividend date was Wednesday, August 27th. This represents a $0.32 annualized dividend and a yield of 1.1%. Cinemark’s payout ratio is 17.49%.

Insider Buying and Selling

In other news, EVP Melissa Thomas sold 7,200 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the sale, the executive vice president owned 203,768 shares in the company, valued at approximately $5,128,840.56. The trade was a 3.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

CNK has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cinemark in a research note on Saturday, September 27th. Wedbush raised shares of Cinemark from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Wall Street Zen raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Benchmark reissued a “buy” rating and issued a $35.00 target price on shares of Cinemark in a research note on Wednesday, July 2nd. Finally, Barrington Research reissued an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research note on Tuesday, September 23rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.91.

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.