Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Rises By 6.2%

Cinemark Holdings, Inc. (NYSE:CNK) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 29,650,000 shares, an increase of 6.2% from the March 31st total of 27,920,000 shares. Approximately 27.3% of the shares of the company are short sold. Based on an average daily volume of 3,160,000 shares, the days-to-cover ratio is currently 9.4 days.

Wall Street Analysts Forecast Growth

CNK has been the topic of a number of analyst reports. Roth Mkm upped their price target on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group reduced their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. JPMorgan Chase & Co. upped their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Benchmark reissued a “buy” rating and issued a $22.00 target price on shares of Cinemark in a report on Wednesday, April 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Cinemark in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cinemark presently has a consensus rating of “Hold” and an average target price of $20.11.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, the insider now owns 179,591 shares of the company’s stock, valued at approximately $3,008,149.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Several hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. raised its stake in shares of Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after purchasing an additional 700 shares during the last quarter. Watershed Asset Management L.L.C. lifted its position in shares of Cinemark by 6.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after buying an additional 915 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Cinemark by 1.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 58,368 shares of the company’s stock valued at $1,071,000 after purchasing an additional 967 shares during the period. First National Bank of Hutchinson lifted its stake in Cinemark by 1.4% in the 3rd quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock worth $1,282,000 after purchasing an additional 989 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its stake in Cinemark by 5.9% during the third quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock valued at $408,000 after buying an additional 1,241 shares during the last quarter.

Cinemark Price Performance

Shares of NYSE:CNK opened at $18.00 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73. The company has a 50 day moving average of $17.85 and a 200 day moving average of $15.83. Cinemark has a 12 month low of $13.19 and a 12 month high of $20.40. The stock has a market cap of $2.19 billion, a P/E ratio of 14.17, a P/E/G ratio of 2.02 and a beta of 2.25.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, February 16th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $638.90 million during the quarter, compared to analysts’ expectations of $619.67 million. Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.82) EPS. As a group, sell-side analysts forecast that Cinemark will post 0.85 EPS 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.