Cinemark Holdings, Inc. (NYSE:CNK) Insider Sells $679,750.00 in Stock

Cinemark Holdings, Inc. (NYSE:CNK) insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Cinemark Stock Up 1.0 %

Cinemark stock opened at $27.38 on Thursday. Cinemark Holdings, Inc. has a 1-year low of $13.19 and a 1-year high of $27.46. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 2.14 and a beta of 2.36. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The firm has a 50 day simple moving average of $22.63 and a 200 day simple moving average of $19.22.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The business’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 EPS. On average, analysts predict that Cinemark Holdings, Inc. will post 1.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. NBC Securities Inc. grew its position in shares of Cinemark by 17.2% during the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Cinemark during the 2nd quarter valued at $79,000. Fifth Third Bancorp grew its position in shares of Cinemark by 414.4% during the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock valued at $97,000 after purchasing an additional 3,609 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Cinemark in the second quarter worth $144,000.

Wall Street Analysts Forecast Growth

CNK has been the topic of a number of research reports. Roth Mkm lifted their price target on shares of Cinemark from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Cinemark in a report on Friday, August 2nd. Morgan Stanley lifted their price target on shares of Cinemark from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Benchmark reaffirmed a “buy” rating and issued a $23.00 price target on shares of Cinemark in a report on Monday, July 1st. Finally, Macquarie lifted their price target on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.60.

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.