Cinemark Holdings, Inc. (NYSE:CNK) EVP Melissa Thomas Sells 7,200 Shares of Stock

Cinemark Holdings, Inc. (NYSE:CNK) EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the sale, the executive vice president now directly owns 210,968 shares of the company’s stock, valued at approximately $6,630,724.24. This represents a 3.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Cinemark Price Performance

CNK stock opened at $31.82 on Friday. 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 company has a market capitalization of $3.66 billion, a PE ratio of 15.67 and a beta of 1.91. Cinemark Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $36.28. The business’s fifty day moving average price is $27.51 and its 200 day moving average price is $29.46.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). The firm had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. On average, sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.01%. Cinemark’s dividend payout ratio is presently 21.05%.

Institutional Investors Weigh In On Cinemark

Large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd increased its holdings in Cinemark by 26.9% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 152,400 shares of the company’s stock worth $4,722,000 after purchasing an additional 32,310 shares during the period. KBC Group NV boosted its position in shares of Cinemark by 470.1% in the 4th quarter. KBC Group NV now owns 16,920 shares of the company’s stock valued at $524,000 after purchasing an additional 13,952 shares during the period. Franklin Resources Inc. boosted its position in shares of Cinemark by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 70,964 shares of the company’s stock valued at $2,198,000 after purchasing an additional 14,207 shares during the period. Principal Financial Group Inc. lifted its position in Cinemark by 18.8% during the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after acquiring an additional 99,843 shares during the period. Finally, Vanguard Group Inc. lifted its position in 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 during the period.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNK. Morgan Stanley reduced their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Benchmark cut their price objective on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Macquarie reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a research note on Thursday, February 20th. Wells Fargo & Company lowered their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Cinemark from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.80.

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.