Cinemark Holdings, Inc. (NYSE:CNK) Short Interest Update

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

Cinemark Stock Down 1.9 %

CNK stock traded down $0.61 during midday trading on Tuesday, hitting $31.56. The company’s stock had a trading volume of 1,963,822 shares, 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 company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. Cinemark has a 12 month low of $13.19 and a 12 month high of $36.28. The company has a market cap of $3.86 billion, a PE ratio of 20.36, a P/E/G ratio of 1.66 and a beta of 2.38.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. During the same period in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Cinemark will post 2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Wedbush downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. The Goldman Sachs Group increased their price target on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Wells Fargo & Company boosted their price objective on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.80.

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.