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

Cinemark Holdings, Inc. (NYSE:CNK) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 24,130,000 shares, an increase of 12.8% from the September 30th total of 21,400,000 shares. Based on an average daily trading volume, of 2,520,000 shares, the days-to-cover ratio is currently 9.6 days. Currently, 22.1% of the shares of the stock are sold short.

Cinemark Stock Down 2.3 %

Shares of CNK stock traded down $0.70 during trading on Thursday, reaching $29.78. The company’s stock had a trading volume of 4,232,281 shares, compared to its average volume of 2,861,420. The business has a fifty day moving average price of $28.15 and a 200-day moving average price of $23.03. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. Cinemark has a one year low of $13.19 and a one year high of $31.09.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. The business had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Analysts anticipate that Cinemark will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

CNK has been the topic of a number of research analyst reports. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Wedbush boosted their price objective on shares of Cinemark from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price target 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. Two analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

A number of institutional investors have recently made changes to their positions in CNK. Third Point LLC bought a new stake in Cinemark during the first quarter worth $89,850,000. Steadfast Capital Management LP acquired a new position in shares of Cinemark in the first quarter valued at $29,323,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Cinemark in the first quarter valued at about $15,975,000. Nut Tree Capital Management LP acquired a new position in shares of Cinemark in the first quarter valued at about $13,250,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Cinemark in the third quarter valued at about $12,133,000.

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.