GHP Investment Advisors Inc. Raises Stock Holdings in Cinemark Holdings Inc (NYSE:CNK)

GHP Investment Advisors Inc. boosted its holdings in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 104.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,365 shares of the company's stock after purchasing an additional 14,518 shares during the period. GHP Investment Advisors Inc.'s holdings in Cinemark were worth $706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. LPL Financial LLC boosted its holdings in Cinemark by 6.8% in the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company's stock valued at $270,000 after purchasing an additional 556 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Cinemark by 3.2% in the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock valued at $549,000 after purchasing an additional 557 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Cinemark by 3.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock valued at $504,000 after purchasing an additional 591 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Cinemark by 5.7% in the fourth 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 during the last quarter. Finally, Quarry LP boosted its holdings in 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 purchasing an additional 623 shares during the last quarter.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the transaction, the insider now directly owns 130,612 shares of the company's stock, valued at $4,311,502.12. This represents a 16.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the transaction, the executive vice president now directly owns 210,968 shares of the company's stock, valued at $6,630,724.24. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,724 shares of company stock valued at $2,724,435. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CNK. Barrington Research reissued an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a report on Monday, May 5th. JPMorgan Chase & Co. increased their price target on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, May 5th. B. Riley initiated coverage on Cinemark in a report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective for the company. Finally, Wedbush reissued a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.20.

Cinemark Stock Down 1.6%

NYSE:CNK opened at $30.16 on Thursday. The firm has a market capitalization of $3.47 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.93. The stock has a 50 day moving average of $31.19 and a 200-day moving average of $29.37. Cinemark Holdings Inc has a 52 week low of $20.43 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.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). The company 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 company earned $0.19 earnings per share. Analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.08 per share. 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 dividend payout ratio (DPR) is presently 21.05%.

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.

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