Independent Advisor Alliance Takes $1.53 Million Position 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 purchased a new stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 61,551 shares of the company's stock, valued at approximately $1,532,000. Independent Advisor Alliance owned approximately 0.05% of Cinemark as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of CNK. Candlestick Capital Management LP increased its holdings in Cinemark by 48.1% during the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock worth $152,782,000 after buying an additional 1,601,537 shares during the last quarter. Marshall Wace LLP raised its stake 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cinemark by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,959,183 shares of the company's stock valued at $91,676,000 after buying an additional 34,402 shares during the period. Nuveen LLC bought a new stake in Cinemark in the first quarter valued at approximately $32,297,000. Finally, Northern Trust Corp boosted its holdings in shares of Cinemark by 14.2% during the 4th quarter. Northern Trust Corp now owns 1,272,312 shares of the company's stock worth $39,416,000 after buying an additional 158,130 shares in the last quarter.

Cinemark Stock Up 1.3%

NYSE:CNK traded up $0.33 during mid-day trading on Friday, hitting $25.66. The company had a trading volume of 5,168,753 shares, compared to its average volume of 3,935,134. The business has a fifty day simple moving average of $29.22 and a 200-day simple moving average of $28.81. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.86 and a beta of 1.90. 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 issued its earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.15). The company had revenue of $940.50 million during the quarter, compared to analyst estimates of $942.14 million. Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The business's revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Equities analysts forecast that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The company 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 of this dividend 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 currently 17.49%.

Insiders Place Their Bets

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the transaction, the insider owned 130,612 shares of the company's stock, valued at $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wanda Marie Gierhart sold 52,524 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the sale, the insider directly owned 94,890 shares of the company's stock, valued at approximately $3,022,246.50. The trade was a 35.63% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNK shares. Wells Fargo & Company reiterated an "overweight" rating and set a $33.00 price target (down previously from $36.00) on shares of Cinemark in a research note on Monday, August 4th. Benchmark reaffirmed a "buy" rating and issued a $35.00 price target on shares of Cinemark in a research note on Wednesday, July 2nd. Wedbush raised Cinemark from a "neutral" rating to an "outperform" rating and upped their price target for the company from $32.00 to $37.00 in a report on Friday, July 11th. B. Riley initiated coverage on Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.67.

Cinemark Company 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.