Cinemark Holdings Inc $CNK Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,633 shares of the company’s stock after selling 8,883 shares during the period. Deutsche Bank AG owned approximately 0.08% of Cinemark worth $2,231,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. XTX Topco Ltd increased its stake in Cinemark by 198.1% during the 1st quarter. XTX Topco Ltd now owns 51,036 shares of the company’s stock valued at $1,270,000 after buying an additional 33,913 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cinemark by 7.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,177 shares of the company’s stock valued at $751,000 after buying an additional 2,199 shares during the period. Assetmark Inc. acquired a new position in Cinemark during the 1st quarter valued at about $3,587,000. Navellier & Associates Inc. acquired a new position in Cinemark during the 1st quarter valued at about $1,255,000. Finally, Allianz Asset Management GmbH acquired a new position in Cinemark during the 1st quarter valued at about $508,000.

Cinemark Stock Performance

Cinemark stock opened at $26.6280 on Thursday. The firm’s 50 day simple moving average is $28.90 and its 200-day simple moving average is $28.76. The company has a market cap of $3.06 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 1.89 and a beta of 1.90. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. Cinemark Holdings Inc has a fifty-two week low of $23.12 and a fifty-two week high of $36.28.

Cinemark (NYSE:CNK) last released its earnings results on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.15). The firm had revenue of $940.50 million during the quarter, compared to analysts’ expectations of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The business’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. As a group, equities research analysts predict that Cinemark Holdings Inc will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 27th. Cinemark’s dividend payout ratio (DPR) is 17.49%.

Wall Street Analysts Forecast Growth

CNK has been the topic of several research analyst reports. Barrington Research reissued an “outperform” rating and set a $36.00 target price on shares of Cinemark in a research note on Monday, August 4th. Wedbush raised shares of Cinemark from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $32.00 to $37.00 in a research note on Friday, July 11th. Benchmark reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Cinemark in a research note on Thursday, July 10th. They issued a “buy” rating and a $36.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the sale, the insider directly owned 130,612 shares in the company, valued at approximately $4,311,502.12. This trade represents a 16.07% 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, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president owned 203,768 shares of the company’s stock, valued at approximately $5,128,840.56. This represents a 3.41% 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 $2,679,363 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

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.