Insider Selling: Cinemark (NYSE:CNK) EVP Sells $547,854.42 in Stock

Cinemark Holdings Inc (NYSE:CNK) EVP Melissa Thomas sold 22,082 shares of Cinemark stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total value of $547,854.42. Following the sale, the executive vice president directly owned 167,360 shares in the company, valued at approximately $4,152,201.60. The trade was a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Cinemark Stock Performance

Shares of CNK opened at $24.59 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 5.01. The stock has a market cap of $2.89 billion, a P/E ratio of 23.64, a P/E/G ratio of 2.33 and a beta of 1.10. The business’s 50 day moving average price is $27.01 and its 200-day moving average price is $28.13. Cinemark Holdings Inc has a 52 week low of $21.61 and a 52 week high of $34.01.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The firm had revenue of $857.50 million for the quarter, compared to the consensus estimate of $851.47 million. During the same quarter in the prior year, the business posted $1.19 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities research analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.5%. This is a boost from Cinemark’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, November 28th. Cinemark’s dividend payout ratio (DPR) is currently 34.62%.

Hedge Funds Weigh In On Cinemark

Several institutional investors have recently bought and sold shares of CNK. Marshall Wace LLP grew its holdings in Cinemark by 758.9% during the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after purchasing an additional 3,973,689 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Cinemark by 106.9% during the second quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company’s stock valued at $78,147,000 after buying an additional 1,338,153 shares during the period. Nuveen LLC bought a new position in shares of Cinemark during the first quarter valued at approximately $32,297,000. Woodline Partners LP purchased a new stake in shares of Cinemark in the third quarter worth approximately $33,390,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Cinemark by 119.9% during the 2nd quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock worth $65,808,000 after acquiring an additional 1,188,709 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on CNK shares. Roth Capital reiterated a “buy” rating and issued a $35.00 price target on shares of Cinemark in a research report on Wednesday, November 5th. JPMorgan Chase & Co. lowered their target price on Cinemark from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a report on Monday, December 8th. UBS Group set a $35.00 price objective on Cinemark in a research note on Wednesday. Finally, Barrington Research reiterated an “outperform” rating and set a $36.00 price objective on shares of Cinemark in a research note on Tuesday, September 23rd. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.27.

About Cinemark

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.