Insider Selling: Cinemark Holdings, Inc. (NYSE:CNK) Insider Sells 9,119 Shares of Stock

Cinemark Holdings, Inc. (NYSE:CNK) insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction on 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 transaction, the insider now owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cinemark Stock Performance

Cinemark stock opened at $25.73 on Friday. 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 debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The stock has a market cap of $3.15 billion, a P/E ratio of 12.67 and a beta of 2.38. The firm’s fifty day moving average price is $29.83 and its 200-day moving average price is $29.77.

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

Cinemark Announces Dividend

The company also recently announced a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

Institutional Trading of Cinemark

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Cinemark by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock worth $387,408,000 after acquiring an additional 109,179 shares during the last quarter. Candlestick Capital Management LP raised its position in Cinemark by 48.1% in the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after purchasing an additional 1,601,537 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock worth $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Renaissance Technologies LLC boosted its position in Cinemark by 12.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock valued at $117,773,000 after buying an additional 430,006 shares during the period. Finally, Marshall Wace LLP boosted its position in Cinemark by 14.5% during the fourth quarter. Marshall Wace LLP now owns 3,124,834 shares of the company’s stock valued at $96,807,000 after buying an additional 396,720 shares during the period.

Analysts Set New Price Targets

Several brokerages have commented on CNK. Benchmark cut their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Morgan Stanley cut their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Barrington Research reissued an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.70.

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.