Cinemark (NYSE:CNK) Shares Down 2% - Here's Why

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) fell 2% during trading on Monday . The stock traded as low as $25.78 and last traded at $25.54. 133,910 shares changed hands during trading, a decline of 95% from the average session volume of 2,788,911 shares. The stock had previously closed at $26.05.

Analyst Ratings Changes

A number of research firms have recently commented on CNK. Macquarie reaffirmed an "outperform" rating and issued a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. Barrington Research restated an "outperform" rating and issued a $40.00 target price on shares of Cinemark in a research note on Wednesday, February 19th. Morgan Stanley decreased their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Wedbush reiterated a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a research note on Tuesday, February 18th. Finally, Benchmark dropped their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cinemark has an average rating of "Moderate Buy" and an average target price of $32.70.

Cinemark Trading Down 2.9 %

The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a 50-day moving average of $27.62 and a 200-day moving average of $29.42. The firm has a market capitalization of $3.06 billion, a P/E ratio of 12.31 and a beta of 2.41.

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

Cinemark Announces Dividend

The company also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is 15.76%.

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the sale, the insider now owns 147,414 shares in the company, valued at $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its holdings in Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company's stock worth $270,000 after acquiring an additional 556 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Cinemark by 3.2% during the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock worth $549,000 after acquiring an additional 557 shares during the last quarter. Natixis Advisors LLC grew its holdings in Cinemark by 2.9% during the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company's stock valued at $575,000 after purchasing an additional 583 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Cinemark by 3.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company's stock valued at $504,000 after acquiring an additional 591 shares during the period. Finally, Summit Investment Advisors Inc. increased its stake in shares of Cinemark by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company's stock worth $358,000 after purchasing an additional 618 shares in the last quarter.

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.