Cinemark Holdings, Inc. (NYSE:CNK) Insider Sells $1,672,889.40 in Stock

Cinemark Holdings, Inc. (NYSE:CNK) insider Wanda Marie Gierhart sold 52,524 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the transaction, the insider now directly owns 94,890 shares in the company, valued at approximately $3,022,246.50. This represents a 35.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cinemark Trading Down 0.7%

CNK stock opened at $31.92 on Tuesday. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 15.72 and a beta of 1.93. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The business has a fifty day simple moving average of $30.53 and a 200-day simple moving average of $29.50. Cinemark Holdings, Inc. has a 52 week low of $18.46 and a 52 week high of $36.28.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. During the same period in the prior year, the firm earned $0.19 EPS. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a $0.08 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 1.00%. Cinemark’s dividend payout ratio is currently 21.05%.

Institutional Trading of Cinemark

Large investors have recently added to or reduced their stakes in the stock. Elequin Capital LP increased its holdings in Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after purchasing an additional 677 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock valued at $32,000 after purchasing an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd increased its holdings in Cinemark by 380.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after purchasing an additional 1,501 shares in the last quarter. Quarry LP increased its holdings in Cinemark by 41.8% in 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 in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Cinemark by 198.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company’s stock valued at $103,000 after purchasing an additional 2,207 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNK. Macquarie reissued an “outperform” rating and set a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. Morgan Stanley reduced their price target on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Benchmark reduced their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Barrington Research reissued an “outperform” rating and set a $36.00 price target on shares of Cinemark in a research note on Monday, May 5th. Finally, Wedbush reissued a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus target price of $33.20.

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.