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 shares were sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the transaction, the executive vice president now directly owns 210,968 shares of the company’s stock, valued at $6,630,724.24. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Cinemark Stock Up 2.1%

Shares of Cinemark stock opened at $31.82 on Friday. The firm has a market cap of $3.66 billion, a P/E ratio of 15.67 and a beta of 1.91. The business has a 50-day moving average price of $27.51 and a 200 day moving average price of $29.46. Cinemark Holdings, Inc. has a fifty-two week low of $16.32 and a fifty-two 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 earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). The company had revenue of $540.70 million during the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. On average, sell-side analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Cinemark’s dividend payout ratio (DPR) is presently 21.05%.

Hedge Funds Weigh In On Cinemark

Institutional investors have recently made changes to their positions in the stock. Elequin Capital LP boosted its position in shares of Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after buying an additional 677 shares during the period. Russell Investments Group Ltd. lifted its position in Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after purchasing an additional 825 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in shares of Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after buying an additional 1,501 shares in the last quarter. R Squared Ltd bought a new position in shares of Cinemark in the fourth quarter valued at $63,000. Finally, Quarry LP raised its stake in Cinemark by 41.8% during the 4th 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 period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNK. Benchmark dropped their price objective on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Wedbush restated a “neutral” rating and set a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. Wells Fargo & Company reduced their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a report on Monday, May 5th. Finally, Macquarie restated an “outperform” rating and set a $35.00 price objective on shares of Cinemark in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and an average target price of $32.80.

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.