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 the company’s 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 sale, the insider now directly owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Cinemark Stock Performance

CNK traded down $0.29 during trading on Tuesday, reaching $26.72. 3,244,904 shares of the company’s stock were exchanged, compared to its average volume of 2,921,964. The company has a market capitalization of $3.27 billion, a P/E ratio of 13.16 and a beta of 2.38. 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 50 day moving average price of $30.13 and a 200 day moving average price of $29.82. Cinemark Holdings, Inc. has a fifty-two week low of $16.04 and a fifty-two week high of $36.28.

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

Cinemark Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s dividend payout ratio is currently 15.76%.

Hedge Funds Weigh In On Cinemark

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CNK shares. Barrington Research restated an “outperform” rating and set a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Benchmark decreased 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. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. JPMorgan Chase & Co. cut their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Wedbush restated a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and a consensus price target of $32.70.

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.