Cinemark (NYSE:CNK) Trading Down 2% – Here’s What Happened

Cinemark Holdings, Inc. (NYSE:CNK)’s share price dropped 2% during mid-day trading on Monday . The stock traded as low as $25.78 and last traded at $25.54. Approximately 133,910 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 2,788,911 shares. The stock had previously closed at $26.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CNK shares. JPMorgan Chase & Co. cut their price target on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Benchmark decreased their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Macquarie reiterated an “outperform” rating and issued a $35.00 price objective on shares of Cinemark in a report on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and set a $32.00 price target on shares of Cinemark in a report on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.70.

Cinemark Trading Up 1.1 %

The stock has a 50-day moving average price of $27.74 and a two-hundred day moving average price of $29.47. The stock has a market capitalization of $3.14 billion, a PE ratio of 12.64 and a beta of 2.41. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01.

Cinemark (NYSE:CNK) last posted 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 return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, equities analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the business’s 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 transaction, the insider now 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 this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC grew its position in shares of Cinemark by 2.9% during the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock valued at $575,000 after purchasing an additional 583 shares in the last quarter. Quest Partners LLC purchased a new position in Cinemark during the 3rd quarter valued at approximately $115,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Cinemark by 88.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock worth $1,733,000 after acquiring an additional 29,295 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Cinemark by 139.5% during the 3rd quarter. Intech Investment Management LLC now owns 48,155 shares of the company’s stock worth $1,341,000 after acquiring an additional 28,051 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Cinemark during the 3rd quarter valued at approximately $687,000.

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.