Cinemark Holdings Inc $CNK Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its position in Cinemark Holdings Inc (NYSE:CNK) by 69.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 195,080 shares of the company’s stock after selling 453,744 shares during the period. Citigroup Inc. owned about 0.17% of Cinemark worth $5,466,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 507 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Cinemark during the second quarter worth approximately $47,000. Financial Consulate Inc. acquired a new position in Cinemark in the 3rd quarter valued at $50,000. Meeder Asset Management Inc. purchased a new position in Cinemark in the 3rd quarter valued at $63,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Cinemark by 20.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after purchasing an additional 506 shares in the last quarter.

Cinemark Price Performance

Shares of CNK stock opened at $28.73 on Wednesday. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67. The company has a market capitalization of $3.32 billion, a PE ratio of 33.02 and a beta of 1.08. The firm’s 50-day moving average is $24.56 and its two-hundred day moving average is $25.98. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $34.01.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The firm had revenue of $776.30 million for the quarter, compared to analyst estimates of $778.41 million. During the same quarter in the prior year, the business earned $0.33 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts predict that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. Cinemark’s dividend payout ratio is 41.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating and set a $36.00 price objective on shares of Cinemark in a research note on Thursday, February 19th. B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a report on Thursday, February 19th. Macquarie Infrastructure lowered their target price on Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $28.00 price target (down from $35.00) on shares of Cinemark in a research report on Thursday, December 18th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

Insider Buying and Selling at Cinemark

In related news, EVP Melissa Thomas sold 22,082 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total transaction of $547,854.42. Following the completion of the sale, the executive vice president directly owned 167,360 shares of the company’s stock, valued at approximately $4,152,201.60. This trade represents a 11.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Cinemark Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.