Cinemark (NYSE:CNK) Shares Down 2% – Time to Sell?

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

Analysts Set New Price Targets

CNK has been the subject of several recent research reports. Wedbush reiterated a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a research report on Tuesday, February 18th. Benchmark lowered 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. 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. Macquarie restated an “outperform” rating and set a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Up 1.1 %

The company has a market cap of $3.14 billion, a P/E ratio of 12.64 and a beta of 2.41. The company has a 50-day simple moving average of $27.74 and a 200 day simple moving average of $29.47. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The company had revenue of $814.30 million during 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 company’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) EPS. On average, equities analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

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

Insider Buying and Selling

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction 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. This represents a 5.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by insiders.

Institutional Trading of Cinemark

A number of hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC raised its holdings in shares of Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock valued at $270,000 after purchasing an additional 556 shares in the last quarter. QRG Capital Management Inc. raised its stake in Cinemark by 3.2% in the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock worth $549,000 after buying an additional 557 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Cinemark by 2.9% during the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after buying an additional 583 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Cinemark by 3.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock worth $504,000 after buying an additional 591 shares during the period. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Cinemark by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock valued at $358,000 after acquiring an additional 618 shares during the period.

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.