Cinemark Holdings Inc $CNK Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in shares of Cinemark Holdings Inc (NYSE:CNK) by 4.9% during the third quarter, HoldingsChannel reports. The firm owned 11,466,411 shares of the company’s stock after selling 593,124 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Cinemark worth $321,289,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CNK. Marshall Wace LLP lifted its position in shares of Cinemark by 758.9% during the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock worth $135,729,000 after purchasing an additional 3,973,689 shares during the last quarter. Squarepoint Ops LLC increased its stake in Cinemark by 119.9% during the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock valued at $65,808,000 after purchasing an additional 1,188,709 shares during the last quarter. Man Group plc bought a new stake in shares of Cinemark during the 2nd quarter valued at about $33,953,000. SG Americas Securities LLC raised its position in shares of Cinemark by 102.4% during the 3rd quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $680,000 after purchasing an additional 1,023,333 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Cinemark in the 2nd quarter worth approximately $27,373,000.

Wall Street Analysts Forecast Growth

CNK has been the topic of several analyst reports. Moffett Nathanson upgraded Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, January 20th. Barrington Research restated an “outperform” rating and set a $32.00 price target on shares of Cinemark in a research report on Thursday, February 19th. Macquarie Infrastructure lowered their price objective on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. B. Riley Financial reissued a “neutral” rating on shares of Cinemark in a report on Thursday, February 19th. Finally, Wall Street Zen raised Cinemark from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.08.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of Cinemark stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the completion of the sale, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. This trade represents a 4.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Cinemark Stock Up 5.7%

NYSE CNK opened at $28.23 on Friday. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $34.01. The company has a market capitalization of $3.26 billion, a P/E ratio of 32.45 and a beta of 1.13. The company’s 50 day simple moving average is $24.31 and its 200 day simple moving average is $25.94. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67.

Cinemark (NYSE:CNK) last announced its 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 company had revenue of $776.30 million for the quarter, compared to analyst estimates of $778.41 million. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. Equities research analysts expect that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal 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 issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. Cinemark’s payout ratio is currently 41.38%.

About Cinemark

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.