Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the transaction, the insider now owns 130,612 shares of the company's stock, valued at $4,311,502.12. This trade represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Cinemark Stock Up 2.4%
CNK stock traded up $0.80 during trading on Friday, hitting $33.76. 2,969,920 shares of the stock traded hands, compared to its average volume of 3,014,736. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28. The firm's 50 day moving average is $29.00 and its two-hundred day moving average is $29.59. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 16.63 and a beta of 1.91. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96.
Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.32). The firm had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business's quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. On average, sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.
Cinemark Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, May 29th. Cinemark's payout ratio is presently 21.05%.
Institutional Trading of Cinemark
Institutional investors have recently made changes to their positions in the stock. Elequin Capital LP boosted its holdings in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after acquiring an additional 677 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after acquiring an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in shares of Cinemark by 380.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after purchasing an additional 1,501 shares during the period. R Squared Ltd bought a new position in shares of Cinemark in the 4th quarter worth approximately $63,000. Finally, Quarry LP lifted its stake in shares of Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after purchasing an additional 623 shares during the period.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. B. Riley assumed coverage on shares of Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 target price for the company. Morgan Stanley decreased their price target on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Macquarie reiterated an "outperform" rating and set a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. Barrington Research restated an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.20.
Read Our Latest Stock Report on Cinemark
About Cinemark
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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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