Cinemark Holdings, Inc. (NYSE:CNK) Insider Valmir Fernandes Sells 25,000 Shares

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total value of $825,250.00. Following the transaction, the insider now owns 130,612 shares in the company, valued at approximately $4,311,502.12. This trade represents a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cinemark Stock Performance

Shares of NYSE CNK traded down $0.65 during midday trading on Monday, hitting $33.12. The company's stock had a trading volume of 3,445,984 shares, compared to its average volume of 3,569,190. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 16.32 and a beta of 1.91. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The stock has a fifty day moving average price of $29.17 and a 200 day moving average price of $29.57. Cinemark Holdings, Inc. has a one year low of $16.32 and a one year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. During the same quarter last year, the company earned $0.19 EPS. The firm's revenue was down 6.6% compared to the same quarter last year. On average, research analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 29th. Cinemark's dividend payout ratio is presently 21.05%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Strs Ohio purchased a new position in Cinemark during the first quarter worth about $3,920,000. Acadian Asset Management LLC purchased a new position in Cinemark in the 1st quarter worth approximately $372,000. Intech Investment Management LLC lifted its holdings in shares of Cinemark by 52.0% during the 1st quarter. Intech Investment Management LLC now owns 94,133 shares of the company's stock worth $2,343,000 after acquiring an additional 32,190 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cinemark by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company's stock worth $8,593,000 after acquiring an additional 25,490 shares in the last quarter. Finally, Woodline Partners LP bought a new position in Cinemark in the first quarter valued at $570,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on CNK. Macquarie reaffirmed an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a report on Thursday, February 20th. Barrington Research reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their target price on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Wedbush reiterated a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. Finally, B. Riley initiated coverage on shares of Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.20.

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.