Wanda Marie Gierhart Sells 9,119 Shares of Cinemark Holdings, Inc. (NYSE:CNK) Stock

Cinemark Holdings, Inc. (NYSE:CNK) insider Wanda Marie Gierhart sold 9,119 shares of the company’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 sale, the insider now directly owns 147,414 shares in the company, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cinemark Stock Down 2.6 %

Shares of NYSE:CNK opened at $25.98 on Thursday. The stock has a market cap of $3.18 billion, a P/E ratio of 12.80 and a beta of 2.38. The firm has a fifty day moving average price of $30.04 and a 200 day moving average price of $29.83. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a 1-year low of $16.05 and a 1-year high of $36.28.

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

Cinemark Announces Dividend

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

Analysts Set New Price Targets

CNK has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Macquarie reaffirmed an “outperform” rating and set a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Wedbush reaffirmed a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research note on Tuesday, February 18th. Finally, Benchmark lowered their price target on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and a consensus price target of $32.70.

Institutional Trading of Cinemark

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised 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 buying an additional 109,179 shares during the last quarter. Candlestick Capital Management LP raised its position in Cinemark by 48.1% during the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after buying an additional 1,601,537 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Cinemark by 100.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock worth $127,159,000 after buying an additional 2,054,579 shares during the last quarter. Renaissance Technologies LLC raised its position in 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 raised its position in Cinemark by 14.5% during 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 during the last quarter.

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.