Cinemark (NYSE:CNK) Stock Price Down 2% – Time to Sell?

Cinemark Holdings, Inc. (NYSE:CNK)’s stock price traded down 2% during trading on Monday . The stock traded as low as $25.78 and last traded at $25.54. 133,910 shares were traded during mid-day trading, a decline of 95% from the average session volume of 2,788,911 shares. The stock had previously closed at $26.05.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Macquarie reiterated an “outperform” rating and issued a $35.00 price objective on shares of Cinemark in a research note on Thursday, February 20th. Wedbush restated a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a report on Tuesday, February 18th. Barrington Research reiterated an “outperform” rating and set a $40.00 target price on shares of Cinemark in a research note on Wednesday, February 19th. Finally, Benchmark cut their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Performance

The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 12.69 and a beta of 2.41. The stock’s 50 day moving average is $27.90 and its two-hundred day moving average is $29.51.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same quarter last year, the firm earned ($0.15) EPS. The business’s revenue was up 27.5% on a year-over-year basis. Analysts anticipate that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently declared a — dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio is presently 15.76%.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the transaction, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Several institutional investors have recently made changes to their positions in CNK. Vanguard Group Inc. boosted its stake in shares of Cinemark by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock worth $387,408,000 after acquiring an additional 109,179 shares in the last quarter. Candlestick Capital Management LP boosted its position in Cinemark by 48.1% during the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after purchasing an additional 1,601,537 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Cinemark by 12.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock worth $117,773,000 after buying an additional 430,006 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Cinemark by 14.5% in the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company’s stock worth $96,807,000 after buying an additional 396,720 shares in the last quarter.

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.