Cinemark Holdings Inc (NYSE:CNK) EVP Melissa Thomas Sells 7,200 Shares

Key Points

• EVP Melissa Thomas of Cinemark Holdings Inc sold 7,200 shares at an average price of $25.17, totaling approximately $181,224, which represents a 3.41% decrease in her ownership.
• Cinemark recently reported quarterly earnings with an EPS of $0.63, falling short of the consensus estimate of $0.78, despite a 28.1% increase in revenue compared to the prior year.
• The company has announced a quarterly dividend of $0.08 per share to be paid on September 10th, reflecting a 1.2% yield and a payout ratio of 17.49%.

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) EVP Melissa Thomas sold 7,200 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $25.17, for a total transaction of $181,224.00. Following the transaction, the executive vice president directly owned 203,768 shares of the company's stock, valued at $5,128,840.56. This trade represents a 3.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cinemark Stock Up 1.9%

NYSE:CNK traded up $0.49 during mid-day trading on Monday, hitting $26.11. 5,602,996 shares of the company's stock traded hands, compared to its average volume of 3,945,826. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91. The company has a fifty day moving average of $29.22 and a 200 day moving average of $28.81. Cinemark Holdings Inc has a twelve month low of $23.12 and a twelve month high of $36.28. The company has a market capitalization of $3.00 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.83 and a beta of 1.90.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The business had revenue of $940.50 million during the quarter, compared to analysts' expectations of $942.14 million. During the same period in the previous year, the company posted $0.32 earnings per share. Cinemark's revenue for the quarter was up 28.1% compared to the same quarter last year. On average, analysts forecast that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 27th. Cinemark's dividend payout ratio is presently 17.49%.

Institutional Investors Weigh In On Cinemark

A number of institutional investors have recently modified their holdings of the business. LPL Financial LLC raised its holdings in Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company's stock worth $270,000 after purchasing an additional 556 shares during the period. Russell Investments Group Ltd. increased its position in shares of Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after purchasing an additional 825 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cinemark in the fourth quarter worth about $1,494,000. Summit Investment Advisors Inc. lifted its stake in shares of Cinemark by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock worth $358,000 after buying an additional 618 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Cinemark by 187.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 386,000 shares of the company's stock worth $11,958,000 after acquiring an additional 251,500 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNK. Benchmark reiterated a "buy" rating and set a $35.00 target price on shares of Cinemark in a research report on Wednesday, July 2nd. Wedbush raised Cinemark from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $32.00 to $37.00 in a research report on Friday, July 11th. JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $33.00 price target (down previously from $36.00) on shares of Cinemark in a research note on Monday, August 4th. Finally, Barrington Research reiterated an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Cinemark presently has an average rating of "Moderate Buy" and an average target price of $33.67.

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.

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