Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by Comerica Bank

Comerica Bank trimmed its position in Cinemark Holdings, Inc. (NYSE:CNK) by 2.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 38,963 shares of the company’s stock after selling 1,026 shares during the period. Comerica Bank’s holdings in Cinemark were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. LPL Financial LLC increased its position in shares of Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock valued at $270,000 after acquiring an additional 556 shares during the period. QRG Capital Management Inc. increased its position in shares of Cinemark by 3.2% in the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock valued at $549,000 after acquiring an additional 557 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Cinemark by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock valued at $358,000 after acquiring an additional 618 shares during the period. Quarry LP boosted its holdings in Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock valued at $65,000 after purchasing an additional 623 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Cinemark by 3.7% in the fourth quarter. Sterling Capital Management LLC now owns 18,339 shares of the company’s stock valued at $568,000 after purchasing an additional 652 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have commented on CNK shares. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Macquarie reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a report on Monday, May 5th. Morgan Stanley lowered 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. Finally, Benchmark lowered their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

Cinemark Trading Up 0.8%

Shares of Cinemark stock opened at $31.25 on Monday. The firm has a market capitalization of $3.59 billion, a PE ratio of 15.39 and a beta of 1.91. Cinemark Holdings, Inc. has a twelve month low of $16.32 and a twelve month high of $36.28. The firm’s 50-day moving average price is $26.96 and its 200 day moving average price is $29.41. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.32). The firm 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%. Cinemark’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. On average, sell-side analysts predict that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark’s payout ratio is 21.05%.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the sale, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. This represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

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.