Cinemark Holdings, Inc. (NYSE:CNK) Insider Wanda Marie Gierhart Sells 52,524 Shares

Cinemark Holdings, Inc. (NYSE:CNK) insider Wanda Marie Gierhart sold 52,524 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the transaction, the insider now owns 94,890 shares in the company, valued at $3,022,246.50. This trade represents a 35.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cinemark Stock Performance

CNK opened at $31.92 on Tuesday. The stock has a market cap of $3.67 billion, a P/E ratio of 15.72 and a beta of 1.93. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $30.53 and its 200 day simple moving average is $29.50. Cinemark Holdings, Inc. has a 1-year low of $18.46 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.32). The business had revenue of $540.70 million for the quarter, compared to analysts’ expectations of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. As a group, equities analysts anticipate that Cinemark Holdings, Inc. will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, May 29th. Cinemark’s payout ratio is currently 21.05%.

Institutional Investors Weigh In On Cinemark

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC lifted its stake in Cinemark by 605.1% in the 1st quarter. Inspire Investing LLC now owns 102,936 shares of the company’s stock valued at $2,562,000 after buying an additional 88,338 shares in the last quarter. Strs Ohio purchased a new stake in Cinemark in the 1st quarter valued at approximately $3,920,000. Acadian Asset Management LLC purchased a new stake in Cinemark in the 1st quarter valued at approximately $372,000. Intech Investment Management LLC lifted its stake in Cinemark by 52.0% in the 1st quarter. Intech Investment Management LLC now owns 94,133 shares of the company’s stock valued at $2,343,000 after buying an additional 32,190 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cinemark by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after buying an additional 25,490 shares in the last quarter.

Wall Street Analyst Weigh In

CNK has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Wedbush reiterated a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. Benchmark dropped their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Macquarie reiterated an “outperform” rating and set a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. Finally, B. Riley initiated coverage on Cinemark in a research report on Friday, May 16th. They set a “neutral” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

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.