Cinemark Holdings Inc (NYSE:CNK) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 18.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,703 shares of the company’s stock after buying an additional 6,750 shares during the period. Ritholtz Wealth Management’s holdings in Cinemark were worth $1,063,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CNK. Allspring Global Investments Holdings LLC increased its stake in Cinemark by 1,507.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 87,431 shares of the company’s stock valued at $2,709,000 after buying an additional 81,992 shares during the period. Principal Financial Group Inc. boosted its position in shares of Cinemark by 5.2% during the 4th quarter. Principal Financial Group Inc. now owns 662,790 shares of the company’s stock valued at $20,533,000 after purchasing an additional 33,008 shares in the last quarter. Pinnbrook Capital Management LP bought a new position in shares of Cinemark during the 4th quarter valued at about $4,937,000. New York State Common Retirement Fund boosted its position in shares of Cinemark by 4.4% during the 4th quarter. New York State Common Retirement Fund now owns 35,628 shares of the company’s stock valued at $1,104,000 after purchasing an additional 1,501 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Cinemark during the 4th quarter valued at about $874,000.

Analyst Ratings Changes

CNK has been the subject of several research reports. Benchmark reduced their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Wedbush restated a “neutral” rating and set a $32.00 price objective on shares of Cinemark in a research report on Monday, April 28th. B. Riley initiated coverage on shares of Cinemark in a research report on Friday, May 16th. They set a “neutral” rating and a $35.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.20.

Cinemark Stock Performance

Shares of CNK opened at $32.42 on Wednesday. Cinemark Holdings Inc has a one year low of $19.05 and a one year high of $36.28. The company has a 50-day moving average of $30.66 and a two-hundred day moving average of $29.48. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 1.91 and a beta of 1.93. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.79 and a quick ratio of 0.76.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). The business had revenue of $540.70 million during the quarter, compared to analysts’ expectations of $604.62 million. Cinemark had a net margin of 8.17% and a return on equity of 51.68%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. On average, equities research analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, May 29th. Cinemark’s dividend payout ratio is currently 21.05%.

Insider Buying and Selling

In related news, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the completion of the sale, the executive vice president now directly owns 210,968 shares in the company, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wanda Marie Gierhart sold 52,524 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the sale, the insider now owns 94,890 shares of the company’s stock, valued at approximately $3,022,246.50. This represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,724 shares of company stock worth $2,724,435. 2.30% of the stock is owned by company insiders.

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.