Cinemark Holdings Inc (NYSE:CNK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 693,941 shares of the company's stock after selling 136,450 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of Cinemark worth $17,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. LPL Financial LLC increased its holdings in shares of Cinemark by 6.8% during the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company's stock valued at $270,000 after acquiring an additional 556 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Cinemark by 3.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock valued at $504,000 after acquiring an additional 591 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Cinemark by 5.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock valued at $358,000 after acquiring an additional 618 shares in the last quarter. Quarry LP increased its holdings in shares of Cinemark by 41.8% during the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after acquiring an additional 623 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Cinemark by 3.7% during the fourth quarter. Sterling Capital Management LLC now owns 18,339 shares of the company's stock valued at $568,000 after acquiring an additional 652 shares in the last quarter.

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 52,524 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the sale, the insider directly owned 94,890 shares of the company's stock, valued at $3,022,246.50. This trade represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the sale, the executive vice president directly owned 210,968 shares in the company, valued at approximately $6,630,724.24. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,724 shares of company stock valued at $2,724,435 over the last ninety days. Company insiders own 2.10% of the company's stock.

Cinemark Stock Up 0.8%

Shares of CNK traded up $0.24 during midday trading on Friday, reaching $30.23. 3,794,269 shares of the stock were exchanged, compared to its average volume of 3,246,218. Cinemark Holdings Inc has a 52 week low of $21.17 and a 52 week high of $36.28. 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's 50 day moving average is $31.32 and its two-hundred day moving average is $29.20. The company has a market capitalization of $3.48 billion, a P/E ratio of 19.89, a PEG ratio of 2.44 and a beta of 1.88.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data 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 51.68% and a net margin of 8.17%. The company had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. During the same quarter last year, the company earned $0.19 earnings per share. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, May 29th. Cinemark's payout ratio is 21.05%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. B. Riley assumed coverage on Cinemark in a research report on Friday, May 16th. They issued a "neutral" rating and a $35.00 target price on the stock. Barrington Research reiterated an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research note on Monday, May 5th. Wedbush upgraded Cinemark from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Cinemark in a research note on Thursday, July 10th. They set a "buy" rating and a $36.00 price objective for the company. Finally, Roth Capital cut their price objective on Cinemark from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Cinemark currently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

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.