KBC Group NV Sells 12,060 Shares of Cinemark Holdings Inc (NYSE:CNK)

KBC Group NV lessened its position in shares of Cinemark Holdings Inc (NYSE:CNK - Free Report) by 71.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,860 shares of the company's stock after selling 12,060 shares during the period. KBC Group NV's holdings in Cinemark were worth $121,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Elequin Capital LP boosted its stake in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after buying an additional 677 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after buying an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of Cinemark by 380.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after buying an additional 1,501 shares during the last quarter. Quarry LP boosted its stake in shares of Cinemark by 41.8% during the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after buying an additional 623 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Cinemark during the 4th quarter worth about $183,000.

Cinemark Stock Performance

Shares of CNK stock opened at $29.86 on Tuesday. The stock has a market capitalization of $3.43 billion, a P/E ratio of 19.64, a PEG ratio of 1.84 and a beta of 1.88. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 5.53. The firm's 50 day moving average is $31.42 and its 200 day moving average is $29.24. Cinemark Holdings Inc has a 12 month low of $20.43 and a 12 month high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.32). Cinemark had a net margin of 8.17% and a return on equity of 51.68%. The business had revenue of $540.70 million for the quarter, compared to analysts' expectations of $604.62 million. During the same period in the prior year, the company posted $0.19 EPS. The business's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, May 29th. Cinemark's payout ratio is 21.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CNK shares. 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 for the company. Barrington Research reiterated an "outperform" rating and issued a $36.00 target price on shares of Cinemark in a research note on Monday, May 5th. Benchmark reiterated a "buy" rating and issued a $35.00 target price on shares of Cinemark in a research note on Wednesday, July 2nd. Finally, Wedbush reiterated a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Cinemark currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.20.

Insider Transactions at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the transaction, the executive vice president owned 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanda Marie Gierhart sold 52,524 shares of Cinemark stock in a transaction dated Friday, June 13th. The shares were 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 in the company, valued at $3,022,246.50. The trade was a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,724 shares of company stock valued at $2,724,435 in the last quarter. Insiders own 2.10% of the company's stock.

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.

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