Boothbay Fund Management LLC Sells 137,749 Shares of Cinemark Holdings Inc $CNK

Boothbay Fund Management LLC lowered its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 23.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 440,078 shares of the company’s stock after selling 137,749 shares during the quarter. Boothbay Fund Management LLC’s holdings in Cinemark were worth $12,331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CNK. Amalgamated Bank grew its stake in shares of Cinemark by 1.7% in the 3rd quarter. Amalgamated Bank now owns 29,626 shares of the company’s stock worth $830,000 after acquiring an additional 488 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Cinemark by 20.1% during the third 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. EverSource Wealth Advisors LLC boosted its holdings in Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in Cinemark by 6.3% during the second quarter. Elo Mutual Pension Insurance Co now owns 19,563 shares of the company’s stock worth $590,000 after purchasing an additional 1,161 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in Cinemark by 4.0% in the 3rd quarter. Cresset Asset Management LLC now owns 38,478 shares of the company’s stock worth $1,078,000 after purchasing an additional 1,478 shares in the last quarter.

Insider Buying and Selling

In other news, EVP Melissa Thomas sold 7,944 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total value 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 approximately $4,152,786.80. This represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen raised Cinemark from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Barrington Research reissued an “outperform” rating and issued a $32.00 price objective on shares of Cinemark in a research report on Thursday, February 19th. Macquarie Infrastructure reduced their price objective on Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 29th. Finally, UBS Group raised shares of Cinemark to a “buy” rating in a report on Tuesday, January 20th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and an average target price of $32.08.

Cinemark Stock Performance

NYSE:CNK opened at $25.78 on Friday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.67 and a current ratio of 0.71. Cinemark Holdings Inc has a 52-week low of $21.60 and a 52-week high of $34.01. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 29.63 and a beta of 1.08. The business’s fifty day moving average is $25.18 and its 200 day moving average is $26.02.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $776.30 million during the quarter, compared to the consensus estimate of $778.41 million. Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. 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 Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.36 annualized dividend and a yield of 1.4%. Cinemark’s dividend 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.