Envestnet Asset Management Inc. Sells 26,864 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Envestnet Asset Management Inc. cut its stake in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 63.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,337 shares of the company's stock after selling 26,864 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Cinemark were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in Cinemark by 6.8% in the 3rd quarter. Franklin Resources Inc. now owns 56,757 shares of the company's stock worth $1,651,000 after buying an additional 3,632 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Cinemark by 18.8% in the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company's stock worth $17,533,000 after purchasing an additional 99,843 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Cinemark by 44.9% in the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company's stock valued at $91,000 after purchasing an additional 906 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Cinemark by 104.5% in the fourth quarter. Ritholtz Wealth Management now owns 35,953 shares of the company's stock worth $1,114,000 after buying an additional 18,371 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Cinemark during the 4th quarter worth about $4,725,000.

Cinemark Price Performance

NYSE CNK remained flat at $31.01 on Friday. The company's stock had a trading volume of 511,018 shares, compared to its average volume of 3,004,625. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The stock's 50 day moving average price is $26.82 and its two-hundred day moving average price is $29.38. Cinemark Holdings, Inc. has a 52-week low of $16.32 and a 52-week high of $36.28. The company has a market capitalization of $3.66 billion, a P/E ratio of 15.28 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last issued 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 65.83% and a net margin of 10.16%. The business had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. Cinemark's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities research analysts forecast that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The business also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark's payout ratio is presently 21.05%.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

CNK has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday. Barrington Research restated an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research report on Monday. Wedbush reiterated a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. Benchmark lowered their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, Macquarie reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $32.80.

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.