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

Charles Schwab Investment Management Inc. lowered its position in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,430,572 shares of the company’s stock after selling 35,916 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Cinemark were worth $44,319,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Maverick Capital Ltd. boosted its stake in shares of Cinemark by 1,356.4% during the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after purchasing an additional 1,413,557 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Cinemark by 1,532.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock worth $18,102,000 after purchasing an additional 610,398 shares during the last quarter. Hennessy Advisors Inc. boosted its position in Cinemark by 13.8% during the fourth quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after purchasing an additional 241,600 shares in the last quarter. Castellan Group purchased a new position in Cinemark in the third quarter valued at about $6,130,000. Finally, Pinnbrook Capital Management LP bought a new position in Cinemark in the fourth quarter worth about $4,937,000.

Cinemark Trading Up 1.4 %

Shares of NYSE:CNK opened at $24.20 on Friday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 11.92 and a beta of 2.41. The business’s 50 day moving average price is $28.37 and its 200-day moving average price is $29.55. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark Holdings, Inc. has a 1 year low of $16.32 and a 1 year high of $36.28.

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

Cinemark Announces Dividend

The business also recently declared a — dividend, which will be paid on Wednesday, March 19th. Shareholders 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%.

Insider Transactions at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at $3,980,178. The trade was a 5.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNK. Wells Fargo & Company lowered their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley reduced their target price on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Benchmark decreased their price target on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. decreased their target price on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

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.