Vanguard Group Inc. Has $305.89 Million Stake in Cinemark Holdings Inc $CNK

Vanguard Group Inc. lowered its stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,289,682 shares of the company's stock after selling 215,417 shares during the quarter. Vanguard Group Inc. owned about 10.42% of Cinemark worth $305,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC lifted its position in shares of Cinemark by 6.8% during the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company's stock worth $270,000 after buying an additional 556 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Cinemark by 3.8% in the 4th 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. increased its position in Cinemark by 5.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock worth $358,000 after purchasing an additional 618 shares during the last quarter. Quarry LP grew its holdings 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 purchasing an additional 623 shares during the period. Finally, Elequin Capital LP boosted its holdings in Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after acquiring an additional 677 shares during the period.

Cinemark Trading Down 1.3%

Cinemark stock traded down $0.3550 during midday trading on Thursday, hitting $26.2250. 1,456,803 shares of the stock were exchanged, compared to its average volume of 3,924,827. The company has a fifty day simple moving average of $28.90 and a two-hundred day simple moving average of $28.76. Cinemark Holdings Inc has a 52 week low of $23.12 and a 52 week high of $36.28. The stock has a market capitalization of $3.02 billion, a PE ratio of 14.33, a P/E/G ratio of 1.89 and a beta of 1.90. 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 announced its quarterly earnings results on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $942.14 million. During the same period in the previous year, the firm posted $0.32 EPS. The business's quarterly revenue was up 28.1% compared to the same quarter last year. Equities research analysts anticipate that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 27th. Cinemark's payout ratio is presently 17.49%.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $25.17, for a total value of $181,224.00. Following the transaction, the executive vice president directly owned 203,768 shares in the company, valued at $5,128,840.56. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wanda Marie Gierhart sold 52,524 shares of the company's 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 completion of the transaction, the insider owned 94,890 shares in the company, valued at $3,022,246.50. This trade represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,724 shares of company stock worth $2,679,363. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barrington Research reissued an "outperform" rating and set a $36.00 price target on shares of Cinemark in a research report on Monday, August 4th. Wells Fargo & Company reiterated an "overweight" rating and issued a $33.00 price target (down previously from $36.00) on shares of Cinemark in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cinemark in a research report on Thursday, July 10th. They set a "buy" rating and a $36.00 target price for the company. Finally, Wall Street Zen raised shares of Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.