Cinemark (NYSE:CNK) Reaches New 12-Month Low - Should You Sell?

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $29.35 and last traded at $29.87, with a volume of 3450575 shares. The stock had previously closed at $29.77.

Analyst Ratings Changes

A number of research firms recently commented on CNK. Macquarie reissued an "outperform" rating and issued a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. Barrington Research reissued an "outperform" rating and set a $40.00 target price on shares of Cinemark in a research report on Wednesday, February 19th. Benchmark decreased their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. upgraded Cinemark from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $30.00 to $34.00 in a research note on Friday, April 11th. Finally, Wedbush reaffirmed a "neutral" rating and set a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.10.

Cinemark Price Performance

The stock has a market cap of $3.57 billion, a P/E ratio of 14.93 and a beta of 2.07. 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 business's 50-day simple moving average is $26.40 and its two-hundred day simple moving average is $29.33.

Cinemark (NYSE:CNK - Get Free Report) last issued its 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 business had revenue of $540.70 million for the quarter, compared to analysts' expectations of $604.62 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. Sell-side analysts expect that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The company also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is currently 15.76%.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company's stock in a transaction dated 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 directly owns 147,414 shares in the company, valued at $3,980,178. This represents a 5.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Elequin Capital LP lifted 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 worth $31,000 after acquiring an additional 677 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after buying an additional 825 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in shares of Cinemark by 380.0% during the fourth 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 stake in Cinemark in the fourth quarter valued at $63,000. Finally, Quarry LP grew its holdings in shares of Cinemark by 41.8% during the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after acquiring an additional 623 shares during the period.

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.