Cinemark (NYSE:CNK) Stock Price Down 3% Following Insider Selling

Shares of Cinemark Holdings Inc (NYSE:CNK - Get Free Report) traded down 3% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $31.43 and last traded at $31.18. 268,477 shares were traded during mid-day trading, a decline of 91% from the average session volume of 3,070,982 shares. The stock had previously closed at $32.14.

Specifically, insider Wanda Marie Gierhart sold 52,524 shares of the firm's stock in a transaction dated 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 owns 94,890 shares in the company, valued at $3,022,246.50. This trade represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Benchmark reduced their price target on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Macquarie reiterated an "outperform" rating and set a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. Wedbush reiterated a "neutral" rating and set a $32.00 price target on shares of Cinemark in a research report on Monday, April 28th. Finally, Morgan Stanley reduced their price target on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.20.

Cinemark Price Performance

The company's 50 day moving average price is $30.88 and its 200-day moving average price is $29.52. The company has a market capitalization of $3.75 billion, a PE ratio of 21.46, a PEG ratio of 1.96 and a beta of 1.93. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 5.53.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analysts' expectations of $604.62 million. During the same period in the previous year, the company earned $0.19 EPS. The business's quarterly revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.98%. Cinemark's dividend payout ratio is presently 21.05%.

Institutional Trading of Cinemark

Institutional investors have recently made changes to their positions in the stock. LPL Financial LLC lifted its holdings in Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company's stock worth $270,000 after buying an additional 556 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Cinemark by 3.2% in the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock worth $549,000 after buying an additional 557 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Cinemark by 3.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock worth $504,000 after buying an additional 591 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Cinemark by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock worth $358,000 after buying an additional 618 shares in the last quarter. Finally, Quarry LP lifted its holdings in Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after buying an additional 623 shares in the last quarter.

Cinemark Company 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.