Zurcher Kantonalbank Zurich Cantonalbank Buys 2,199 Shares of Cinemark Holdings Inc (NYSE:CNK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cinemark Holdings Inc (NYSE:CNK) by 7.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,177 shares of the company’s stock after acquiring an additional 2,199 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cinemark were worth $751,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Elequin Capital LP grew its holdings in Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after purchasing an additional 677 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after buying an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of Cinemark by 380.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after buying an additional 1,501 shares during the period. Quarry LP grew its stake in Cinemark by 41.8% in the 4th 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, CWM LLC grew its stake in Cinemark by 20.6% in the 1st quarter. CWM LLC now owns 6,548 shares of the company’s stock valued at $163,000 after buying an additional 1,118 shares during the last quarter.

Cinemark Price Performance

NYSE:CNK opened at $25.49 on Wednesday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.76 and a current ratio of 0.91. The company has a 50-day moving average of $30.38 and a 200-day moving average of $29.01. Cinemark Holdings Inc has a 52 week low of $23.12 and a 52 week high of $36.28. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 2.26 and a beta of 1.90.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.15). The business had revenue of $940.50 million during the quarter, compared to analyst estimates of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. As a group, equities research analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal 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 paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 1.3%. Cinemark’s payout ratio is currently 17.49%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. B. Riley began coverage on shares of Cinemark in a research report on Friday, May 16th. They set a “neutral” rating and a $35.00 target price for the company. Barrington Research reissued an “outperform” rating and set a $36.00 price objective on shares of Cinemark in a research report on Monday. Wedbush upgraded Cinemark from a “neutral” rating to an “outperform” rating and increased their target price for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Roth Capital dropped their price target on Cinemark from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Wall Street Zen lowered Cinemark from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

Insider Activity at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the company’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 sale, the executive vice president directly owned 210,968 shares in the company, valued at $6,630,724.24. This represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the transaction, the insider directly owned 130,612 shares of the company’s stock, valued at approximately $4,311,502.12. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,724 shares of company stock valued at $2,724,435 in the last 90 days. 2.30% of the stock is owned by corporate insiders.

Cinemark 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.