Cinemark Holdings Inc (NYSE:CNK) Insider Sells $1,672,889.40 in Stock

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) insider Wanda Marie Gierhart sold 52,524 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the transaction, the insider now directly owns 94,890 shares in the company, valued at $3,022,246.50. The trade was a 35.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cinemark Trading Up 0.4%

CNK stock traded up $0.12 during midday trading on Thursday, reaching $32.62. The company's stock had a trading volume of 4,467,565 shares, compared to its average volume of 3,112,924. The business's 50-day simple moving average is $30.88 and its 200-day simple moving average is $29.52. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.53. Cinemark Holdings Inc has a 52 week low of $19.05 and a 52 week high of $36.28. The stock has a market cap of $3.75 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.95 and a beta of 1.93.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.32). Cinemark had a return on equity of 51.68% and a net margin of 8.17%. The company had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. During the same quarter in the prior year, the business posted $0.19 EPS. 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 business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, May 29th. Cinemark's payout ratio is 21.05%.

Institutional Trading of Cinemark

Institutional investors and hedge funds have recently modified their holdings of the stock. Inspire Investing LLC boosted its stake in Cinemark by 605.1% during the 1st quarter. Inspire Investing LLC now owns 102,936 shares of the company's stock worth $2,562,000 after acquiring an additional 88,338 shares during the last quarter. Strs Ohio acquired a new stake in Cinemark in the first quarter worth $3,920,000. Acadian Asset Management LLC bought a new position in shares of Cinemark during the first quarter worth $372,000. Intech Investment Management LLC grew its holdings in shares of Cinemark by 52.0% in the 1st quarter. Intech Investment Management LLC now owns 94,133 shares of the company's stock valued at $2,343,000 after buying an additional 32,190 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Cinemark by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company's stock valued at $8,593,000 after buying an additional 25,490 shares during the period.

Analysts Set New Price Targets

A number of research firms recently issued reports on CNK. Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a report on Monday, May 5th. Wedbush restated a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a research report on Monday, April 28th. Benchmark reduced their target price on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. 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. Finally, B. Riley assumed coverage on shares of Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.