Charles Schwab Investment Management Inc. Has $33.22 Million Stake in Cinemark Holdings Inc $CNK

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in Cinemark Holdings Inc by 6.7%, now owning 1,334,797 shares worth approximately $33.2 million after selling 95,775 shares in the first quarter.
• Several other investors have recently increased their stakes in Cinemark, with Canada Pension Plan Investment Board boosting its holdings by 187% and Russell Investments increasing its stake by 402.4% during the fourth quarter.
• Analysts have a generally positive outlook on Cinemark, with an average target price of $33.67 and most ratings indicating a "buy" or "hold" scenario among the majority.

Charles Schwab Investment Management Inc. reduced its stake in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,334,797 shares of the company's stock after selling 95,775 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.13% of Cinemark worth $33,223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC boosted its holdings in Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company's stock worth $270,000 after acquiring an additional 556 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Cinemark by 3.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock worth $504,000 after acquiring an additional 591 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Cinemark by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock valued at $358,000 after purchasing an additional 618 shares in the last quarter. Quarry LP raised its position in shares of Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after purchasing an additional 623 shares in the last quarter. Finally, Elequin Capital LP raised its position in shares of Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after purchasing an additional 677 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CNK. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $33.00 target price (down from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Benchmark reissued a "buy" rating and set a $35.00 price target on shares of Cinemark in a research report on Wednesday, July 2nd. Wall Street Zen raised Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Barrington Research reissued an "outperform" rating and set a $36.00 price target on shares of Cinemark in a research report on Monday, August 4th. Finally, B. Riley started coverage on Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 price target on the stock. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.67.

Insider Transactions at Cinemark

In other news, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the sale, the executive vice president directly owned 203,768 shares of the company's stock, valued at $5,128,840.56. This trade represents a 3.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $4,311,502.12. This trade represents a 16.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,724 shares of company stock valued at $2,679,363 in the last three months. Corporate insiders own 2.10% of the company's stock.

Cinemark Stock Up 1.4%

Cinemark stock traded up $0.3630 during mid-day trading on Friday, hitting $26.5430. The company's stock had a trading volume of 1,380,999 shares, compared to its average volume of 3,919,638. The firm's 50 day moving average is $28.79 and its 200 day moving average is $28.74. The company has a market cap of $3.05 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.90 and a beta of 1.90. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. Cinemark Holdings Inc has a 52-week low of $23.12 and a 52-week high of $36.28.

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

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. Cinemark's dividend payout ratio (DPR) is 17.49%.

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.