Melissa Thomas Sells 7,200 Shares of Cinemark (NYSE:CNK) Stock

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 Cinemark stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the completion of the sale, the executive vice president directly owned 203,768 shares of the company's stock, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cinemark Stock Performance

CNK traded up $0.3560 during trading hours on Friday, hitting $26.5360. The stock had a trading volume of 2,916,755 shares, compared to its average volume of 4,728,293. The company's fifty day simple moving average is $28.68 and its 200 day simple moving average is $28.71. Cinemark Holdings Inc has a 1 year low of $23.12 and a 1 year high of $36.28. The stock has a market cap of $3.05 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.90 and a beta of 1.90. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32.

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

Cinemark Announces Dividend

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

Wall Street Analysts Forecast Growth

CNK has been the subject of a number of research analyst reports. Roth Capital dropped their price target on Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Wells Fargo & Company restated an "overweight" rating and issued a $33.00 target price (down previously from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Wedbush upgraded Cinemark from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $32.00 to $37.00 in a research report on Friday, July 11th. Wall Street Zen upgraded Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, B. Riley started coverage on Cinemark in a research report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cinemark has an average rating of "Moderate Buy" and a consensus price target of $33.67.

Hedge Funds Weigh In On Cinemark

Several hedge funds have recently made changes to their positions in CNK. LPL Financial LLC increased its stake in shares of Cinemark by 6.8% during the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company's stock valued at $270,000 after buying an additional 556 shares during the period. Russell Investments Group Ltd. increased its stake 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 valued at $32,000 after buying an additional 825 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Cinemark during the fourth quarter valued at approximately $1,494,000. Summit Investment Advisors Inc. grew its stake in 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 purchasing an additional 618 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in Cinemark by 187.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 386,000 shares of the company's stock worth $11,958,000 after purchasing an additional 251,500 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.