Charles Schwab Investment Management Inc. Sells 35,916 Shares of Cinemark Holdings, Inc. (NYSE:CNK)

Charles Schwab Investment Management Inc. decreased its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,430,572 shares of the company’s stock after selling 35,916 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.17% of Cinemark worth $44,319,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Cinemark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after purchasing an additional 25,857 shares in the last quarter. Hennessy Advisors Inc. boosted its position in shares of Cinemark by 13.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after acquiring an additional 241,600 shares during the last quarter. Maverick Capital Ltd. grew its stake in Cinemark by 1,356.4% in the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after buying an additional 1,413,557 shares in the last quarter. Royal London Asset Management Ltd. grew its position in Cinemark by 2.4% in the third quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company’s stock worth $35,207,000 after acquiring an additional 29,275 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Cinemark by 5.2% in the 4th quarter. Principal Financial Group Inc. now owns 662,790 shares of the company’s stock worth $20,533,000 after purchasing an additional 33,008 shares in the last quarter.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the transaction, the insider now owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CNK shares. JPMorgan Chase & Co. reduced their price objective on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a research note on Tuesday, February 18th. Benchmark dropped their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company reduced their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, Barrington Research restated an “outperform” rating and set a $40.00 target price on shares of Cinemark in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Stock Up 1.4 %

CNK opened at $24.20 on Friday. The firm’s fifty day moving average is $28.37 and its 200 day moving average is $29.55. Cinemark Holdings, Inc. has a fifty-two week low of $16.32 and a fifty-two week high of $36.28. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 11.92 and a beta of 2.41. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Cinemark’s quarterly revenue was up 27.5% on a year-over-year basis. On average, sell-side analysts forecast that Cinemark Holdings, Inc. will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently declared a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark’s dividend payout ratio is currently 15.76%.

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.