Cinemark Holdings Inc (NYSE:CNK) Insider Wanda Marie Gierhart Sells 52,524 Shares

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) insider Wanda Marie Gierhart sold 52,524 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the sale, the insider now directly owns 94,890 shares of the company's stock, valued at approximately $3,022,246.50. This represents a 35.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cinemark Stock Up 1.5%

Shares of CNK traded up $0.48 during midday trading on Tuesday, hitting $32.42. The company had a trading volume of 11,616,998 shares, compared to its average volume of 3,111,122. Cinemark Holdings Inc has a 1 year low of $19.05 and a 1 year high of $36.28. The firm has a market capitalization of $3.73 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.91 and a beta of 1.93. The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.76 and a current ratio of 0.79. The company's 50-day simple moving average is $30.66 and its 200-day simple moving average is $29.48.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.32). Cinemark had a net margin of 8.17% and a return on equity of 51.68%. The company had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm's quarterly revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. Cinemark's dividend payout ratio (DPR) is currently 21.05%.

Hedge Funds Weigh In On Cinemark

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Cinemark by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock worth $387,408,000 after acquiring an additional 109,179 shares in the last quarter. Wellington Management Group LLP lifted its stake in Cinemark by 12.9% during the first quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company's stock worth $232,643,000 after purchasing an additional 1,066,225 shares during the last quarter. Candlestick Capital Management LP boosted its holdings in Cinemark by 48.1% in the fourth 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 holdings in Cinemark by 100.2% in the fourth 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. Finally, Renaissance Technologies LLC increased its stake in Cinemark by 12.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock valued at $117,773,000 after purchasing an additional 430,006 shares during the last quarter.

Analyst Ratings Changes

CNK has been the topic of several recent analyst reports. Morgan Stanley decreased their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Barrington Research reissued 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. raised their price target on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Macquarie reiterated an "outperform" rating and issued a $35.00 price objective on shares of Cinemark in a report on Thursday, February 20th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cinemark presently has an average rating of "Moderate Buy" and a consensus target price of $33.20.

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.