Vanguard Group Inc. Sells 215,417 Shares of Cinemark Holdings Inc $CNK

Vanguard Group Inc. cut its stake in Cinemark Holdings Inc (NYSE:CNK - Free Report) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,289,682 shares of the company's stock after selling 215,417 shares during the period. Vanguard Group Inc. owned approximately 10.42% of Cinemark worth $305,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Candlestick Capital Management LP raised its holdings in Cinemark by 48.1% in the 4th 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in Cinemark by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,959,183 shares of the company's stock valued at $91,676,000 after acquiring an additional 34,402 shares in the last quarter. Northern Trust Corp raised its holdings in Cinemark by 14.2% in the 4th quarter. Northern Trust Corp now owns 1,272,312 shares of the company's stock valued at $39,416,000 after acquiring an additional 158,130 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Cinemark by 215.4% in the 1st 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 in the last quarter. Finally, Simcoe Capital Management LLC acquired a new position in Cinemark in the 4th quarter valued at $37,763,000.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total value of $825,250.00. Following the sale, the insider owned 130,612 shares in the company, valued at approximately $4,311,502.12. The trade was a 16.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $25.17, for a total value of $181,224.00. Following the completion of the sale, the executive vice president owned 203,768 shares in the company, valued at $5,128,840.56. This trade represents a 3.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,724 shares of company stock worth $2,679,363. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CNK. JPMorgan Chase & Co. lifted their price objective on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Benchmark reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Cinemark in a report on Wednesday, July 2nd. Wells Fargo & Company reissued an "overweight" rating and set a $33.00 price target (down previously from $36.00) on shares of Cinemark in a report on Monday, August 4th. B. Riley initiated coverage on Cinemark in a report on Friday, May 16th. They set a "neutral" rating and a $35.00 price target for the company. Finally, Wall Street Zen raised Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cinemark currently has an average rating of "Moderate Buy" and an average target price of $33.67.

Cinemark Price Performance

CNK stock traded up $0.3560 during midday trading on Friday, reaching $26.5360. 2,916,755 shares of the stock were exchanged, compared to its average volume of 4,728,293. The stock has a market capitalization of $3.05 billion, a PE ratio of 14.50, a P/E/G ratio of 1.87 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 debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The company has a fifty day moving average price of $28.68 and a 200 day moving average price of $28.72.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data 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). 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 was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 27th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 27th. Cinemark's 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.