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

Cinemark Holdings Inc (NYSE:CNK) EVP Melissa Thomas sold 22,082 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 167,360 shares of the company’s stock, valued at approximately $4,152,201.60. This trade represents a 11.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cinemark Price Performance

NYSE:CNK traded down $0.14 during mid-day trading on Thursday, reaching $24.99. 4,184,401 shares of the stock were exchanged, compared to its average volume of 3,891,139. Cinemark Holdings Inc has a 1-year low of $21.61 and a 1-year high of $34.01. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 5.01. The firm has a market capitalization of $2.94 billion, a PE ratio of 24.03, a PEG ratio of 2.32 and a beta of 1.10. The business has a fifty day moving average price of $27.14 and a 200 day moving average price of $28.25.

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

Cinemark Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. This is an increase from Cinemark’s previous quarterly dividend of $0.08. Cinemark’s dividend payout ratio (DPR) is 34.62%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNK shares. Barrington Research reissued an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research report on Tuesday, September 23rd. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Morgan Stanley reduced their target price on Cinemark from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Roth Capital reiterated a “buy” rating and issued a $35.00 target price on shares of Cinemark in a report on Wednesday, November 5th. Finally, UBS Group set a $35.00 price target on shares of Cinemark in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.27.

Hedge Funds Weigh In On Cinemark

A number of hedge funds have recently added to or reduced their stakes in CNK. CIBC Bancorp USA Inc. bought a new position in Cinemark during the third quarter valued at approximately $311,000. Advisory Services Network LLC increased its stake in shares of Cinemark by 7.9% during the 3rd quarter. Advisory Services Network LLC now owns 88,750 shares of the company’s stock worth $2,487,000 after purchasing an additional 6,526 shares during the last quarter. Marathon Asset Management LP bought a new position in shares of Cinemark during the 3rd quarter valued at $8,406,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Cinemark during the 3rd quarter valued at $2,290,000. Finally, Armistice Capital LLC acquired a new stake in shares of Cinemark in the 3rd quarter valued at $912,000.

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.