Cinemark Holdings, Inc. (NYSE:CNK) Sees Significant Increase in Short Interest

Cinemark Holdings, Inc. (NYSE:CNK) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 24,300,000 shares, a growth of 6.0% from the November 15th total of 22,930,000 shares. Based on an average daily volume of 2,510,000 shares, the days-to-cover ratio is currently 9.7 days. Approximately 22.2% of the company’s shares are short sold.

Analyst Ratings Changes

A number of brokerages have issued reports on CNK. Macquarie lifted their price target on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Benchmark boosted their target price on Cinemark from $32.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a report on Thursday, October 31st. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares of the company’s stock, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Quarry LP raised its position in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after buying an additional 1,308 shares during the period. GAMMA Investing LLC raised its position in shares of Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after buying an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after buying an additional 877 shares during the period. USA Financial Formulas purchased a new position in shares of Cinemark in the 3rd quarter worth $77,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Cinemark in the 2nd quarter valued at $79,000.

Cinemark Price Performance

NYSE:CNK traded down $0.61 during trading hours on Tuesday, reaching $31.56. 1,963,822 shares of the company traded hands, compared to its average volume of 2,829,965. The firm’s 50-day moving average is $31.38 and its 200-day moving average is $26.56. The stock has a market cap of $3.86 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.66 and a beta of 2.38. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. Cinemark has a 1-year low of $13.19 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. During the same quarter in the prior year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect that Cinemark will post 2 earnings per share for the current fiscal year.

Cinemark Company 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.