Cerity Partners LLC Buys New Stake in Cinemark Holdings Inc (NYSE:CNK)

Cerity Partners LLC bought a new stake in Cinemark Holdings Inc (NYSE:CNK) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 83,626 shares of the company’s stock, valued at approximately $2,081,000. Cerity Partners LLC owned about 0.07% of Cinemark at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. LPL Financial LLC increased its holdings in Cinemark by 6.8% in the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock valued at $270,000 after buying an additional 556 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Cinemark by 3.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock valued at $504,000 after buying an additional 591 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in Cinemark by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock valued at $358,000 after buying an additional 618 shares during the last quarter. Quarry LP increased its holdings in Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock valued at $65,000 after buying an additional 623 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Cinemark by 3.7% during the fourth quarter. Sterling Capital Management LLC now owns 18,339 shares of the company’s stock worth $568,000 after purchasing an additional 652 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Roth Capital dropped their price objective on Cinemark from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, July 9th. Barrington Research reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Cinemark in a report on Monday, May 5th. B. Riley assumed coverage on Cinemark in a report on Friday, May 16th. They set a “neutral” rating and a $35.00 price objective on the stock. Wedbush raised Cinemark from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $32.00 to $37.00 in a report on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Cinemark in a report on Thursday, July 10th. They set a “buy” rating and a $36.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the sale, the executive vice president owned 210,968 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanda Marie Gierhart sold 52,524 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the completion of the transaction, the insider owned 94,890 shares of the company’s stock, valued at $3,022,246.50. This represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,724 shares of company stock valued at $2,724,435 over the last quarter. Company insiders own 2.30% of the company’s stock.

Cinemark Stock Up 0.8%

CNK stock opened at $30.23 on Monday. The stock has a market capitalization of $3.48 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.44 and a beta of 1.88. The company has a fifty day moving average of $31.32 and a 200-day moving average of $29.17. The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.76 and a current ratio of 0.79. Cinemark Holdings Inc has a one year low of $21.17 and a one year high of $36.28.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting analysts’ consensus estimates of ($0.32). Cinemark had a net margin of 8.17% and a return on equity of 51.68%. The firm had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year. As a group, analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a $0.08 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. Cinemark’s dividend payout ratio (DPR) is presently 21.05%.

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.