Cinemark Holdings Inc $CNK Stock Holdings Reduced by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Cinemark Holdings Inc. by 33.7%, selling 589,823 shares during the first quarter, leaving it with approximately 1.01% ownership valued at about $28.9 million.
• Analysts have shown a positive outlook on Cinemark, with ten rating it as a "Buy" and raising price targets, including Wedbush's increase from $32.00 to $37.00.
• Cinemark recently announced a quarterly dividend of $0.08 per share, resulting in an annualized yield of 1.2%, demonstrating a commitment to returning value to shareholders.

Invesco Ltd. reduced its position in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 33.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,160,564 shares of the company's stock after selling 589,823 shares during the quarter. Invesco Ltd. owned about 1.01% of Cinemark worth $28,886,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CNK. Candlestick Capital Management LP boosted its holdings in shares of Cinemark by 48.1% in the fourth 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. Simcoe Capital Management LLC acquired a new stake in shares of Cinemark in the fourth quarter valued at approximately $37,763,000. Man Group plc acquired a new stake in shares of Cinemark in the fourth quarter valued at approximately $28,040,000. Assenagon Asset Management S.A. boosted its holdings in shares of Cinemark by 215.4% in the first quarter. Assenagon Asset Management S.A. now owns 1,251,219 shares of the company's stock valued at $31,143,000 after acquiring an additional 854,540 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Cinemark by 2,108.9% in the fourth quarter. Hsbc Holdings PLC now owns 374,579 shares of the company's stock valued at $11,571,000 after acquiring an additional 357,621 shares during the period.

Analyst Ratings Changes

Several research firms have recently commented on CNK. JPMorgan Chase & Co. upped their price target on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen upgraded Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Roth Capital cut their price target on Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Wedbush upgraded Cinemark from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $32.00 to $37.00 in a research report on Friday, July 11th. Finally, B. Riley began coverage on Cinemark in a research report on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cinemark presently has a consensus rating of "Moderate Buy" and an average target price of $33.67.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 52,524 shares of the business'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 completion of the transaction, the insider owned 94,890 shares in the company, valued at $3,022,246.50. The trade was a 35.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the sale, the insider directly owned 130,612 shares in the company, valued at $4,311,502.12. The trade was a 16.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,724 shares of company stock worth $2,679,363 in the last 90 days. 2.30% of the stock is currently owned by company insiders.

Cinemark Trading Down 1.4%

Shares of Cinemark stock traded down $0.3840 during trading hours on Monday, reaching $26.1660. The stock had a trading volume of 3,404,994 shares, compared to its average volume of 4,732,132. The firm has a 50 day simple moving average of $28.56 and a two-hundred day simple moving average of $28.66. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 1.90 and a beta of 1.90. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. 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 announced its earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The company had revenue of $940.50 million for the quarter, compared to analysts' expectations of $942.14 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. The business's quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th will be given a dividend of $0.08 per share. The ex-dividend date 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%.

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.