Cinemark Holdings Inc (NYSE:CNK) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC lessened its position in Cinemark Holdings Inc (NYSE:CNK) by 15.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,626 shares of the company’s stock after selling 6,092 shares during the quarter. Easterly Investment Partners LLC’s holdings in Cinemark were worth $837,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Elequin Capital LP raised its stake in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after buying an additional 677 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after purchasing an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after acquiring an additional 1,501 shares during the last quarter. Quarry LP raised its position in Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock valued at $65,000 after purchasing an additional 623 shares during the period. Finally, CWM LLC increased its position in shares of Cinemark by 20.6% during the first quarter. CWM LLC now owns 6,548 shares of the company’s stock worth $163,000 after acquiring an additional 1,118 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Cinemark from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Roth Capital reduced their target price on shares of Cinemark from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, July 9th. B. Riley began coverage on shares of Cinemark in a report on Friday, May 16th. They set a “neutral” rating and a $35.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. Finally, Wedbush upgraded shares of Cinemark from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $32.00 to $37.00 in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Cinemark Stock Down 0.0%

Cinemark stock opened at $29.99 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 5.53. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 2.42 and a beta of 1.88. The company’s 50-day moving average price is $31.36 and its two-hundred day moving average price is $29.21. Cinemark Holdings Inc has a 52 week low of $21.13 and a 52 week high of $36.28.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.32). Cinemark had a return on equity of 51.68% and a net margin of 8.17%. The business had revenue of $540.70 million during the quarter, compared to analysts’ expectations of $604.62 million. During the same period in the prior year, the firm posted $0.19 EPS. Cinemark’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. Cinemark’s dividend payout ratio (DPR) is presently 21.05%.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total transaction of $825,250.00. Following the transaction, the insider owned 130,612 shares of the company’s stock, valued at $4,311,502.12. This trade represents a 16.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the completion of the transaction, the executive vice president owned 210,968 shares of the company’s stock, valued at $6,630,724.24. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,724 shares of company stock worth $2,724,435. Company insiders own 2.10% of the company’s stock.

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.