Cinemark (NYSE:CNK) Shares Down 2% – Here’s Why

Cinemark Holdings, Inc. (NYSE:CNK) shares dropped 2% on Monday . The stock traded as low as $25.78 and last traded at $25.54. Approximately 133,910 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 2,788,911 shares. The stock had previously closed at $26.05.

Analysts Set New Price Targets

Several research firms have recently issued reports on CNK. Morgan Stanley decreased their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Macquarie restated an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. Wells Fargo & Company lowered their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Finally, Benchmark lowered their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. One research 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 data from MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Performance

The stock has a 50-day moving average price of $27.90 and a 200-day moving average price of $29.51. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The firm has a market capitalization of $3.15 billion, a PE ratio of 12.69 and a beta of 2.41.

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

Cinemark Dividend Announcement

The business also recently declared a — dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

Insider Buying and Selling at Cinemark

In related news, 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 of the company’s stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Cinemark

Institutional investors have recently added to or reduced their stakes in the business. Elequin Capital LP grew its position in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after buying an additional 677 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Cinemark by 402.4% during the 4th 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 period. Quarry LP raised its position in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares during the period. Aster Capital Management DIFC Ltd boosted its position in Cinemark by 380.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after purchasing an additional 1,501 shares during the period. Finally, R Squared Ltd bought a new position in Cinemark during the 4th quarter worth $63,000.

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.