Key Points
- EVP Melissa Thomas sold 22,082 shares on December 10 at an average price of $24.81 for total proceeds of $547,854.42, trimming her holding by 11.66% to 167,360 shares valued at roughly $4.15 million.
- Cinemark missed quarterly EPS expectations ($0.40 vs. $0.44) with revenue of $857.5M, down 7% year‑over‑year; the company raised its quarterly dividend to $0.09 ($0.36 annualized, 1.4% yield), and analysts' consensus target price is $35.27 (average rating "Moderate Buy").
Cinemark Holdings Inc (NYSE:CNK - Get Free Report) EVP Melissa Thomas sold 22,082 shares of the firm's stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total value of $547,854.42. Following the sale, the executive vice president directly owned 167,360 shares in the company, valued at approximately $4,152,201.60. This represents a 11.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Cinemark Price Performance
Shares of CNK opened at $24.99 on Friday. The stock has a 50 day simple moving average of $27.09 and a 200 day simple moving average of $28.22. Cinemark Holdings Inc has a 52-week low of $21.61 and a 52-week high of $34.01. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.72 and a current ratio of 0.76. The firm has a market capitalization of $2.94 billion, a PE ratio of 24.03, a P/E/G ratio of 2.38 and a beta of 1.10.
Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The company had revenue of $857.50 million during the quarter, compared to the consensus estimate of $851.47 million. Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The business's quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. Sell-side analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.
Cinemark Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 28th. This is a boost from Cinemark's previous quarterly dividend of $0.08. Cinemark's dividend payout ratio (DPR) is currently 34.62%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Zacks Research upgraded Cinemark from a "strong sell" rating to a "hold" rating in a report on Friday, October 3rd. Benchmark reiterated a "buy" rating on shares of Cinemark in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on Cinemark from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Thursday, November 6th. Morgan Stanley reduced their price target on Cinemark from $35.00 to $34.00 and set an "overweight" rating for the company in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Cinemark in a report on Monday. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.27.
Get Our Latest Stock Report on CNK
Institutional Investors Weigh In On Cinemark
A number of institutional investors and hedge funds have recently made changes to their positions in CNK. Amalgamated Bank grew its stake in shares of Cinemark by 1.7% in the third quarter. Amalgamated Bank now owns 29,626 shares of the company's stock valued at $830,000 after buying an additional 488 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company's stock valued at $83,000 after acquiring an additional 506 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $28,000 after acquiring an additional 507 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Cinemark by 3.2% in the 2nd quarter. QRG Capital Management Inc. now owns 16,894 shares of the company's stock valued at $510,000 after acquiring an additional 521 shares during the period. Finally, Resona Asset Management Co. Ltd. grew its position in shares of Cinemark by 7.2% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 12,056 shares of the company's stock valued at $364,000 after acquiring an additional 812 shares during the period.
Cinemark Company Profile
(
Get Free Report)
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.
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