Vanguard Group Inc. Trims Stake in Cinemark Holdings Inc $CNK

Vanguard Group Inc. lessened its position in Cinemark Holdings Inc (NYSE:CNK) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,466,411 shares of the company’s stock after selling 593,124 shares during the quarter. Vanguard Group Inc. owned approximately 9.97% of Cinemark worth $321,289,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Amalgamated Bank lifted its position in shares of Cinemark by 1.7% during the third quarter. Amalgamated Bank now owns 29,626 shares of the company’s stock worth $830,000 after purchasing an additional 488 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Cinemark by 20.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after purchasing an additional 506 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 buying an additional 507 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of Cinemark by 7.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 12,056 shares of the company’s stock worth $364,000 after acquiring an additional 812 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in Cinemark by 6.3% during the second quarter. Elo Mutual Pension Insurance Co now owns 19,563 shares of the company’s stock worth $590,000 after purchasing an additional 1,161 shares in the last quarter.

Wall Street Analysts Forecast Growth

CNK has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Cinemark in a research report on Thursday, February 19th. The Goldman Sachs Group reissued a “sell” rating and set a $22.00 price target on shares of Cinemark in a report on Thursday, February 19th. JPMorgan Chase & Co. reduced their price target on Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Finally, Barrington Research restated an “outperform” rating and set a $32.00 target price on shares of Cinemark in a research report on Thursday, February 19th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.08.

Cinemark Trading Up 5.7%

Shares of Cinemark stock opened at $28.23 on Friday. Cinemark Holdings Inc has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The business’s fifty day moving average is $24.31 and its two-hundred day moving average is $25.94. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.74. The firm has a market cap of $3.26 billion, a PE ratio of 32.45 and a beta of 1.13.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The business had revenue of $776.30 million during the quarter, compared to analyst estimates of $778.41 million. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.36 annualized dividend and a yield of 1.3%. Cinemark’s dividend payout ratio is currently 41.38%.

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 22,082 shares of Cinemark 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 transaction, the executive vice president directly owned 167,360 shares of the company’s stock, valued at $4,152,201.60. The trade was a 11.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Cinemark Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.