Cinemark Holdings Inc. (CNK) Sees Strong Trading Volume
Shares of Cinemark Holdings Inc. (NYSE:CNK) saw unusually-high trading volume on Thursday . Approximately 705,142 shares were traded during mid-day trading, a decline of 6% from the previous session’s volume of 750,071 shares.The stock last traded at $37.50 and had previously closed at $37.18.
CNK has been the subject of a number of research analyst reports. Moffett Nathanson cut shares of Cinemark Holdings from a “buy” rating to a “neutral” rating in a research note on Thursday, March 17th. Hanson reiterated a “neutral” rating on shares of Cinemark Holdings in a research note on Friday, March 18th. B. Riley cut shares of Cinemark Holdings from a “buy” rating to a “neutral” rating and cut their target price for the company from $46.25 to $41.75 in a research note on Wednesday, March 30th. JPMorgan Chase & Co. lifted their target price on shares of Cinemark Holdings from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Finally, Drexel Hamilton reiterated a “buy” rating on shares of Cinemark Holdings in a research note on Wednesday, April 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $39.95.
The company has a market cap of $4.35 billion and a price-to-earnings ratio of 18.84. The company’s 50 day moving average is $35.06 and its 200-day moving average is $33.59.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The company earned $704.90 million during the quarter, compared to the consensus estimate of $698.06 million. Cinemark Holdings’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Equities analysts predict that Cinemark Holdings Inc. will post $1.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Wednesday, June 8th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Monday, June 6th.
In related news, insider Valmir Fernandes sold 17,983 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $35.78, for a total value of $643,431.74. Following the completion of the transaction, the insider now owns 79,645 shares of the company’s stock, valued at approximately $2,849,698.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
A number of institutional investors recently modified their holdings of CNK. Pear Tree Advisors Inc. bought a new position in shares of Cinemark Holdings during the fourth quarter valued at approximately $1,611,000. Dimensional Fund Advisors LP increased its position in shares of Cinemark Holdings by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 877,122 shares of the company’s stock valued at $29,323,000 after buying an additional 55,216 shares during the last quarter. Trexquant Investment LP increased its position in shares of Cinemark Holdings by 26.3% in the fourth quarter. Trexquant Investment LP now owns 79,698 shares of the company’s stock valued at $2,664,000 after buying an additional 16,585 shares during the last quarter. Hodges Capital Management Inc. increased its position in shares of Cinemark Holdings by 4.8% in the fourth quarter. Hodges Capital Management Inc. now owns 1,175,926 shares of the company’s stock valued at $39,311,000 after buying an additional 53,600 shares during the last quarter. Finally, Polaris Capital Management LLC increased its position in shares of Cinemark Holdings by 11.6% in the fourth quarter. Polaris Capital Management LLC now owns 48,191 shares of the company’s stock valued at $1,611,000 after buying an additional 5,000 shares during the last quarter.
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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