Comerica Bank Sells 401 Shares of Cinemark Holdings Inc $CNK

Comerica Bank lessened its holdings in shares of Cinemark Holdings Inc (NYSE:CNK) by 1.0% during the 1st quarter, Holdings Channel reports. The firm owned 38,562 shares of the company’s stock after selling 401 shares during the period. Comerica Bank’s holdings in Cinemark were worth $960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNK. Elequin Capital LP raised its stake in 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 purchasing an additional 677 shares during the period. Russell Investments Group Ltd. raised its stake in Cinemark by 242.9% during the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company’s stock valued at $88,000 after purchasing an additional 2,502 shares during the period. CWM LLC raised its stake in Cinemark by 20.6% during the 1st quarter. CWM LLC now owns 6,548 shares of the company’s stock valued at $163,000 after purchasing an additional 1,118 shares during the period. Mackenzie Financial Corp bought a new stake in Cinemark during the 4th quarter valued at approximately $221,000. Finally, Numerai GP LLC bought a new stake in Cinemark during the 4th quarter valued at approximately $233,000.

Insider Buying and Selling

In other news, insider Wanda Marie Gierhart sold 52,524 shares of Cinemark stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the transaction, the insider owned 94,890 shares in the company, valued at approximately $3,022,246.50. The trade was a 35.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the completion of the transaction, the executive vice president owned 203,768 shares of the company’s stock, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Cinemark Price Performance

Shares of Cinemark stock opened at $25.85 on Friday. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.82 and a beta of 1.85. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a 50 day moving average price of $27.55 and a 200-day moving average price of $28.31. Cinemark Holdings Inc has a one year low of $23.12 and a one year high of $36.28.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.15). The company had revenue of $940.50 million during the quarter, compared to analysts’ expectations of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.Cinemark’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. Equities analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, August 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. Cinemark’s payout ratio is 17.49%.

Analyst Ratings Changes

Several equities analysts have weighed in on CNK shares. Barrington Research restated an “outperform” rating and set a $36.00 price target on shares of Cinemark in a report on Monday, August 4th. Wall Street Zen upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Wedbush upgraded Cinemark from a “neutral” rating to an “outperform” rating and raised their price target for the company from $32.00 to $37.00 in a report on Friday, July 11th. Benchmark restated a “buy” rating and set a $35.00 price target on shares of Cinemark in a report on Wednesday, July 2nd. Finally, B. Riley started coverage on Cinemark in a report on Friday, May 16th. They set a “neutral” rating and a $35.00 price target for the company. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

Cinemark Company Profile

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.