Cinemark Holdings Inc $CNK Shares Sold by Campbell & CO Investment Adviser LLC

Key Points

• Campbell & CO Investment Adviser LLC reduced its holdings in Cinemark Holdings Inc by 61.5%, resulting in the ownership of 51,782 shares worth approximately $1.29 million.
• Insider Wanda Marie Gierhart sold 52,524 shares of Cinemark, valuing around $1.67 million, indicating a 35.63% decrease in their stock ownership.
• Analysts have mixed ratings for Cinemark, with a consensus rating of "Moderate Buy" and an average target price of $33.67, reflecting varied investor sentiment.

Campbell & CO Investment Adviser LLC decreased its position in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 61.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,782 shares of the company's stock after selling 82,757 shares during the period. Campbell & CO Investment Adviser LLC's holdings in Cinemark were worth $1,289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elequin Capital LP boosted its holdings in shares of Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after acquiring an additional 677 shares in the last quarter. Quarry LP boosted its holdings in shares of Cinemark by 41.8% in 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. Russell Investments Group Ltd. lifted its stake in shares of Cinemark by 242.9% in the first quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company's stock valued at $88,000 after purchasing an additional 2,502 shares during the period. CWM LLC lifted its stake in shares of Cinemark by 20.6% in the first quarter. CWM LLC now owns 6,548 shares of the company's stock valued at $163,000 after purchasing an additional 1,118 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of Cinemark in the fourth quarter valued at about $221,000.

Cinemark Price Performance

CNK traded up $0.32 during midday trading on Monday, reaching $25.81. 3,706,720 shares of the company's stock were exchanged, compared to its average volume of 4,203,589. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a market capitalization of $2.97 billion, a PE ratio of 14.10, a P/E/G ratio of 1.85 and a beta of 1.85. The business's 50-day moving average price is $28.04 and its 200 day moving average price is $28.49. Cinemark Holdings Inc has a 1-year low of $23.12 and a 1-year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.15). The business had revenue of $940.50 million for the quarter, compared to analyst estimates of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The business's revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, equities analysts anticipate that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, August 27th. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Cinemark's payout ratio is presently 17.49%.

Analysts Set New Price Targets

CNK has been the subject of several recent analyst reports. Wedbush upgraded shares of Cinemark from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Barrington Research reiterated an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a research note on Monday, August 4th. Roth Capital reduced their price objective on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company reiterated an "overweight" rating and issued a $33.00 price objective (down previously from $36.00) on shares of Cinemark in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Cinemark currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.67.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 52,524 shares of the business's stock in a transaction that occurred on 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 transaction, the insider owned 94,890 shares of the company's stock, valued at $3,022,246.50. The trade was a 35.63% 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, EVP Melissa Thomas sold 7,200 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the transaction, the executive vice president directly owned 203,768 shares of the company's stock, valued at approximately $5,128,840.56. This represents a 3.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.30% of the company's stock.

Cinemark 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.