Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 50.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 323,822 shares of the company's stock after selling 326,405 shares during the quarter. BNP Paribas Financial Markets owned about 0.26% of Cinemark worth $10,032,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd raised its position in Cinemark by 26.9% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 152,400 shares of the company's stock worth $4,722,000 after acquiring an additional 32,310 shares in the last quarter. KBC Group NV increased its position in shares of Cinemark by 470.1% in the fourth quarter. KBC Group NV now owns 16,920 shares of the company's stock valued at $524,000 after buying an additional 13,952 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Cinemark by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 70,964 shares of the company's stock valued at $2,198,000 after buying an additional 14,207 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Cinemark by 18.8% in the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company's stock valued at $17,533,000 after buying an additional 99,843 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Cinemark by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after buying an additional 109,179 shares in the last quarter.

Wall Street Analyst Weigh In

CNK has been the subject of a number of research analyst reports. Wedbush restated a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research report on Monday, April 28th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research note on Monday, May 5th. B. Riley initiated coverage on Cinemark in a research note on Friday. They set a "neutral" rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company decreased their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and a consensus target price of $33.20.

Cinemark Trading Up 0.4%

Shares of NYSE CNK traded up $0.14 during midday trading on Friday, hitting $32.01. The stock had a trading volume of 400,393 shares, compared to its average volume of 3,608,185. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 15.78 and a beta of 1.91. Cinemark Holdings, Inc. has a 1-year low of $16.32 and a 1-year high of $36.28. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The company has a fifty day moving average price of $27.51 and a 200 day moving average price of $29.46.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, meeting the consensus estimate of ($0.32). The business had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company's revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. On average, analysts predict that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. Cinemark's payout ratio is currently 21.05%.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total transaction of $226,296.00. Following the completion of the transaction, the executive vice president now directly owns 210,968 shares in the company, valued at $6,630,724.24. This represents a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanda Marie Gierhart sold 9,119 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the transaction, the insider now owns 147,414 shares of the company's stock, valued at approximately $3,980,178. The trade was a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Cinemark 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.