Cinemark (NYSE:CNK) Stock Price Down 3.4% – Should You Sell?

Cinemark Holdings Inc (NYSE:CNK)’s stock price dropped 3.4% during mid-day trading on Thursday . The stock traded as low as $22.72 and last traded at $22.70. Approximately 1,225,541 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 3,869,590 shares. The stock had previously closed at $23.49.

Analyst Upgrades and Downgrades

CNK has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Cinemark from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Benchmark reiterated a “buy” rating on shares of Cinemark in a research report on Wednesday, December 10th. Morgan Stanley reissued an “equal weight” rating and set a $28.00 price objective (down previously from $35.00) on shares of Cinemark in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research note on Monday. Finally, UBS Group set a $35.00 target price on Cinemark in a research report on Wednesday, December 10th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.73.

Cinemark Stock Up 1.6%

The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. The company has a 50-day moving average price of $26.69 and a 200 day moving average price of $27.81. The firm has a market capitalization of $2.62 billion, a PE ratio of 21.42, a P/E/G ratio of 3.50 and a beta of 1.10.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The business had revenue of $857.50 million during the quarter, compared to analysts’ expectations of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. Analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Cinemark’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, November 28th. Cinemark’s payout ratio is 34.62%.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total transaction of $547,854.42. Following the completion of the transaction, the executive vice president owned 167,360 shares in the company, valued at $4,152,201.60. This trade represents a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Cinemark

Several hedge funds have recently made changes to their positions in CNK. Hudson Bay Capital Management LP increased its stake in Cinemark by 251.2% during the third quarter. Hudson Bay Capital Management LP now owns 398,762 shares of the company’s stock worth $11,173,000 after acquiring an additional 285,225 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Cinemark during the 3rd quarter valued at approximately $311,000. Advisory Services Network LLC increased its position in shares of Cinemark by 7.9% during the 3rd quarter. Advisory Services Network LLC now owns 88,750 shares of the company’s stock valued at $2,487,000 after purchasing an additional 6,526 shares during the last quarter. Marathon Asset Management LP purchased a new stake in Cinemark during the 3rd quarter valued at $8,406,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Cinemark in the third quarter worth $2,290,000.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.