Boothbay Fund Management LLC Sells 137,749 Shares of Cinemark Holdings Inc $CNK

Boothbay Fund Management LLC decreased its stake in Cinemark Holdings Inc (NYSE:CNK) by 23.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,078 shares of the company’s stock after selling 137,749 shares during the period. Boothbay Fund Management LLC owned 0.37% of Cinemark worth $12,331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CNK. EverSource Wealth Advisors LLC increased its stake in shares of Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Cinemark during the second quarter worth about $47,000. Financial Consulate Inc. bought a new position in Cinemark during the third quarter worth about $50,000. Meeder Asset Management Inc. acquired a new position in Cinemark during the third quarter worth approximately $63,000. Finally, Smartleaf Asset Management LLC increased its position in Cinemark by 20.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after buying an additional 506 shares during the last quarter.

Analysts Set New Price Targets

CNK has been the topic of a number of recent analyst reports. Zacks Research raised Cinemark from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Benchmark reiterated a “buy” rating on shares of Cinemark in a report on Thursday, February 19th. Barrington Research reissued an “outperform” rating and issued a $32.00 price objective on shares of Cinemark in a research report on Thursday, February 19th. JPMorgan Chase & Co. cut their target price on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Cinemark from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.08.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $25.78 on Friday. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $34.01. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 29.63 and a beta of 1.08. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67. The company’s 50 day simple moving average is $25.18 and its 200 day simple moving average is $26.02.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The business had revenue of $776.30 million during the quarter, compared to analyst estimates of $778.41 million. During the same period last year, the business earned $0.33 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, research analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 3rd. Cinemark’s dividend payout ratio (DPR) is currently 41.38%.

Insider Transactions at Cinemark

In related news, EVP Melissa Thomas sold 7,944 shares of Cinemark stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total value of $206,941.20. Following the transaction, the executive vice president directly owned 159,416 shares of the company’s stock, valued at $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by corporate 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.