Cinemark Holdings Inc (NYSE:CNK) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 56.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 38,321 shares of the company's stock after selling 49,110 shares during the period. Allspring Global Investments Holdings LLC's holdings in Cinemark were worth $954,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its stake in Cinemark by 100.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock worth $127,159,000 after buying an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP grew its stake in Cinemark by 48.1% during the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock worth $152,782,000 after buying an additional 1,601,537 shares during the last quarter. Simcoe Capital Management LLC purchased a new position in Cinemark during the 4th quarter worth $37,763,000. Man Group plc purchased a new position in Cinemark during the 4th quarter worth $28,040,000. Finally, Assenagon Asset Management S.A. grew its stake in Cinemark by 215.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,251,219 shares of the company's stock worth $31,143,000 after buying an additional 854,540 shares during the last quarter.

Insider Buying and Selling

In other news, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction 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 completion of the transaction, the insider directly owned 130,612 shares in the company, valued at $4,311,502.12. This trade represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Wanda Marie Gierhart sold 52,524 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the transaction, the insider owned 94,890 shares of the company's stock, valued at approximately $3,022,246.50. This represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,724 shares of company stock worth $2,724,435. Company insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CNK. Wedbush restated a "neutral" rating and set a $32.00 target price on shares of Cinemark in a research note on Monday, April 28th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price target on shares of Cinemark in a research report on Monday, May 5th. Benchmark reaffirmed a "buy" rating and set a $35.00 price target on shares of Cinemark in a research report on Wednesday, July 2nd. B. Riley initiated coverage on Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 price target for the company. Finally, Roth Capital lowered their price target on Cinemark from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.36.

Cinemark Price Performance

Shares of Cinemark stock traded down $1.75 during mid-day trading on Wednesday, reaching $28.89. 9,258,139 shares of the stock traded hands, compared to its average volume of 3,211,137. The business has a 50-day moving average of $31.44 and a 200 day moving average of $29.24. Cinemark Holdings Inc has a fifty-two week low of $20.43 and a fifty-two week high of $36.28. The stock has a market capitalization of $3.32 billion, a PE ratio of 19.01, a PEG ratio of 1.79 and a beta of 1.88. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.53.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly 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 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 business's revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. On average, analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 1.11%. Cinemark's payout ratio is 21.05%.

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.