First National Bank of Hutchinson Cuts Stake in Cinemark Holdings Inc (NYSE:CNK)

First National Bank of Hutchinson lessened its holdings in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 46.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,577 shares of the company's stock after selling 11,848 shares during the period. First National Bank of Hutchinson's holdings in Cinemark were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CNK. Vanguard Group Inc. grew its holdings in Cinemark by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after purchasing an additional 109,179 shares during the period. Candlestick Capital Management LP grew its stake in Cinemark by 48.1% in the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock valued at $152,782,000 after acquiring an additional 1,601,537 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after acquiring an additional 2,054,579 shares during the period. Renaissance Technologies LLC increased its holdings in Cinemark by 12.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock worth $117,773,000 after acquiring an additional 430,006 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Cinemark by 14.5% during the fourth quarter. Marshall Wace LLP now owns 3,124,834 shares of the company's stock worth $96,807,000 after acquiring an additional 396,720 shares during the period.

Cinemark Trading Down 4.7%

Shares of NYSE CNK traded down $1.42 during midday trading on Thursday, reaching $29.01. 3,008,616 shares of the stock were exchanged, compared to its average volume of 4,202,224. The stock has a market capitalization of $3.34 billion, a P/E ratio of 19.08, a PEG ratio of 2.58 and a beta of 1.88. The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.76 and a current ratio of 0.79. The company has a 50 day simple moving average of $31.28 and a 200 day simple moving average of $29.18. Cinemark Holdings Inc has a twelve month low of $21.17 and a twelve month high of $36.28.

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, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $604.62 million. During the same period in the prior year, the business posted $0.19 earnings per share. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share 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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Thursday, May 29th. Cinemark's payout ratio is 21.05%.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 52,524 shares of the company's stock in a transaction dated 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 transaction, the insider owned 94,890 shares of the company's stock, valued at $3,022,246.50. This represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the sale, the executive vice president owned 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,724 shares of company stock worth $2,724,435. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. B. Riley initiated coverage on shares of Cinemark in a research report on Friday, May 16th. They issued a "neutral" rating and a $35.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. 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 raised Cinemark from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $32.00 to $37.00 in a research note on Friday, July 11th. Finally, Roth Capital dropped 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, July 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

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.