Cinemark Holdings, Inc. (NYSE:CNK) Insider Sells $246,213.00 in Stock

Cinemark Holdings, Inc. (NYSE:CNK) insider Wanda Marie Gierhart sold 9,119 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cinemark Trading Down 0.9 %

Shares of Cinemark stock opened at $25.73 on Friday. The stock has a fifty day moving average price of $29.83 and a 200-day moving average price of $29.77. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The firm has a market cap of $3.15 billion, a PE ratio of 12.67 and a beta of 2.38. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) EPS. Equities research analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The business also recently declared a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is presently 15.76%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNK. Wedbush reiterated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. JPMorgan Chase & Co. cut their target price on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Wells Fargo & Company lowered their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley dropped their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Finally, Macquarie reiterated an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.70.

Hedge Funds Weigh In On Cinemark

Institutional investors have recently bought and sold shares of the company. Creative Planning lifted its position in shares of Cinemark by 74.8% during the 3rd quarter. Creative Planning now owns 20,907 shares of the company’s stock valued at $582,000 after buying an additional 8,946 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Cinemark in the 3rd quarter valued at about $9,530,000. Assenagon Asset Management S.A. purchased a new stake in Cinemark during the third quarter valued at about $12,133,000. Principal Financial Group Inc. lifted its holdings in Cinemark by 18.8% during the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after purchasing an additional 99,843 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in Cinemark during the third quarter worth about $209,000.

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.