Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Increases By 7.6%

Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 28,060,000 shares, an increase of 7.6% from the May 31st total of 26,090,000 shares. Based on an average daily trading volume, of 2,920,000 shares, the days-to-cover ratio is currently 9.6 days. Currently, 25.7% of the company’s shares are sold short.

Cinemark Stock Down 0.5 %

CNK stock traded down $0.11 during trading on Wednesday, hitting $21.31. 1,119,629 shares of the company’s stock traded hands, compared to its average volume of 3,016,089. The firm has a market capitalization of $2.61 billion, a P/E ratio of 14.73, a PEG ratio of 2.02 and a beta of 2.36. Cinemark has a 1 year low of $13.19 and a 1 year high of $21.87. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The business has a fifty day simple moving average of $18.21 and a two-hundred day simple moving average of $16.83.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. The business had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. Sell-side analysts anticipate that Cinemark will post 1.07 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on CNK. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. Benchmark restated a “buy” rating and issued a $23.00 price target on shares of Cinemark in a report on Monday. Wells Fargo & Company upgraded shares of Cinemark from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $23.00 in a report on Friday, April 5th. B. Riley upped their target price on shares of Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of Cinemark in a research report on Monday, June 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.33.

Institutional Trading of Cinemark

A number of institutional investors have recently modified their holdings of the company. Algert Global LLC purchased a new stake in Cinemark during the third quarter valued at approximately $222,000. Natixis Advisors L.P. lifted its holdings in shares of Cinemark by 5.9% during the 3rd quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock valued at $408,000 after purchasing an additional 1,241 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its position in shares of Cinemark by 276.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock worth $3,470,000 after purchasing an additional 138,874 shares in the last quarter. Seven Eight Capital LP purchased a new position in Cinemark during the 3rd quarter worth $1,029,000. Finally, Graham Capital Management L.P. increased its position in Cinemark by 21.4% during the 3rd quarter. Graham Capital Management L.P. now owns 62,430 shares of the company’s stock valued at $1,146,000 after buying an additional 11,001 shares in the last quarter.

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.