Shares of Cinemark Holdings Inc (NYSE:CNK - Get Free Report) were down 6.1% during trading on Wednesday after Roth Capital lowered their price target on the stock from $36.00 to $35.00. Roth Capital currently has a buy rating on the stock. Cinemark traded as low as $28.84 and last traded at $28.78. Approximately 1,432,397 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 3,182,794 shares. The stock had previously closed at $30.64.
CNK has been the subject of a number of other research reports. Wedbush reissued a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a report on Monday, April 28th. Barrington Research reissued an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a report on Monday, May 5th. B. Riley started coverage on Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective for the company. JPMorgan Chase & Co. upped 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, Benchmark reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.
Read Our Latest Report on Cinemark
Insider Buying and Selling at Cinemark
In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the completion of the sale, the executive vice president owned 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the sale, the insider directly owned 130,612 shares of the company's stock, valued at approximately $4,311,502.12. This trade represents a 16.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,724 shares of company stock valued at $2,724,435. 2.10% of the stock is currently owned by company insiders.
Institutional Trading of Cinemark
Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Cinemark by 106.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company's stock worth $78,147,000 after purchasing an additional 1,338,153 shares in the last quarter. Inspire Investing LLC raised its stake in shares of 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 purchasing an additional 88,338 shares during the period. Strs Ohio bought a new stake in shares of Cinemark during the 1st quarter worth $3,920,000. Acadian Asset Management LLC purchased a new stake in Cinemark in the 1st quarter worth about $372,000. Finally, Intech Investment Management LLC increased its holdings in Cinemark by 52.0% in the 1st quarter. Intech Investment Management LLC now owns 94,133 shares of the company's stock worth $2,343,000 after acquiring an additional 32,190 shares during the last quarter.
Cinemark Trading Down 0.2%
The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 5.53. The company has a market cap of $3.43 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88. The firm has a fifty day moving average of $31.41 and a two-hundred day moving average of $29.23.
Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.32). The business had revenue of $540.70 million during the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 51.68% and a net margin of 8.17%. The company's quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. As a group, sell-side analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current year.
Cinemark Cuts Dividend
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.07%. Cinemark's dividend payout ratio (DPR) is presently 21.05%.
Cinemark Company Profile
(
Get Free Report)
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.
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