Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by MYDA Advisors LLC

MYDA Advisors LLC trimmed its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 64.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,000 shares of the company’s stock after selling 145,000 shares during the quarter. MYDA Advisors LLC’s holdings in Cinemark were worth $2,478,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CNK. LPL Financial LLC grew its holdings in shares of Cinemark by 6.8% during the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after buying an additional 556 shares in the last quarter. QRG Capital Management Inc. grew its stake in Cinemark by 3.2% during the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock valued at $549,000 after acquiring an additional 557 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Cinemark by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock worth $358,000 after purchasing an additional 618 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Cinemark by 3.7% in the fourth quarter. Sterling Capital Management LLC now owns 18,339 shares of the company’s stock valued at $568,000 after purchasing an additional 652 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock valued at $32,000 after purchasing an additional 825 shares during the last quarter.

Cinemark Price Performance

CNK opened at $28.47 on Friday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 14.02 and a beta of 2.07. 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’s 50-day moving average price is $26.49 and its 200 day moving average price is $29.22. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. As a group, sell-side analysts expect that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNK. Morgan Stanley lowered their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised shares of Cinemark from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $34.00 in a research report on Friday, April 11th. Macquarie reiterated an “outperform” rating and issued a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Wedbush reiterated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a report on Tuesday, February 18th. Finally, Barrington Research restated an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and an average price target of $33.10.

Insider Buying and Selling at Cinemark

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

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.