Independent Advisor Alliance Makes New Investment in Cinemark Holdings Inc (NYSE:CNK)

Key Points

• Independent Advisor Alliance acquired 61,551 shares of Cinemark Holdings Inc, valued at approximately $1.53 million, during the first quarter, indicating growing institutional interest in the stock.
• Insiders have sold a total of 84,724 shares worth about $2.72 million over the last 90 days, suggesting potential concern among company executives regarding future performance.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Cinemark, with a price target averaging around $33.67, reflecting optimism despite recent earnings misses.

Independent Advisor Alliance acquired a new position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 61,551 shares of the company's stock, valued at approximately $1,532,000. Independent Advisor Alliance owned about 0.05% of Cinemark as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CNK. LPL Financial LLC boosted its stake in shares of Cinemark by 6.8% in the 4th 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. Russell Investments Group Ltd. boosted its stake in shares of Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after purchasing an additional 825 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Cinemark in the 4th quarter valued at about $1,494,000. Sterling Capital Management LLC boosted its stake in shares of Cinemark by 3.7% in the 4th quarter. Sterling Capital Management LLC now owns 18,339 shares of the company's stock valued at $568,000 after purchasing an additional 652 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake 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 during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Roth Capital reduced their target price on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. raised their target price 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. B. Riley started coverage on shares of Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 target price on the stock. Wall Street Zen raised shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Benchmark reissued a "buy" rating and set a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and an average price target of $33.67.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 52,524 shares of the 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 completion of the transaction, the insider owned 94,890 shares of the company's stock, valued at approximately $3,022,246.50. This 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 can be accessed through the SEC website. 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. 2.10% of the stock is currently owned by corporate insiders.

Cinemark Stock Performance

Shares of Cinemark stock traded up $0.33 during trading on Friday, reaching $25.66. The company's stock had a trading volume of 5,168,753 shares, compared to its average volume of 4,450,725. The business's 50-day moving average price is $29.22 and its 200-day moving average price is $28.81. The firm has a market cap of $2.95 billion, a PE ratio of 14.02, a P/E/G ratio of 1.83 and a beta of 1.90. Cinemark Holdings Inc has a 52 week low of $23.12 and a 52 week high of $36.28. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32.

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

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th will be issued a $0.08 dividend. 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 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.