Cinemark Holdings, Inc. (NYSE:CNK) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in Cinemark Holdings, Inc. (NYSE:CNK - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,044,020 shares of the company's stock after selling 346,647 shares during the quarter. Wells Fargo & Company MN owned about 0.85% of Cinemark worth $32,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CNK. FMR LLC increased its stake in Cinemark by 148.7% in the third quarter. FMR LLC now owns 30,401 shares of the company's stock valued at $846,000 after purchasing an additional 18,177 shares during the last quarter. XTX Topco Ltd purchased a new stake in Cinemark in the third quarter valued at $474,000. Geode Capital Management LLC boosted its stake in Cinemark by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company's stock valued at $68,209,000 after acquiring an additional 25,857 shares in the last quarter. Castellan Group acquired a new position in Cinemark in the third quarter valued at $6,130,000. Finally, Franklin Resources Inc. grew its holdings in shares of Cinemark by 6.8% during the third quarter. Franklin Resources Inc. now owns 56,757 shares of the company's stock worth $1,651,000 after purchasing an additional 3,632 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CNK. Wedbush reissued a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a research report on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Morgan Stanley lowered their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Barrington Research reiterated an "outperform" rating and issued a $40.00 price target on shares of Cinemark in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised shares of Cinemark from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $30.00 to $34.00 in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.10.

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Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, the insider now owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Cinemark Stock Performance

Shares of NYSE:CNK traded down $0.15 during midday trading on Wednesday, hitting $28.04. The stock had a trading volume of 394,410 shares, compared to its average volume of 3,606,253. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. The stock has a 50 day moving average price of $26.66 and a two-hundred day moving average price of $29.20. The company has a market capitalization of $3.31 billion, a PE ratio of 13.81 and a beta of 2.07.

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

Cinemark Dividend Announcement

The firm also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark's payout ratio is 15.76%.

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.