Cinemark Target of Unusually Large Options Trading (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) was the target of some unusual options trading activity on Monday. Investors bought 5,122 put options on the stock. This represents an increase of 91% compared to the typical volume of 2,687 put options.

Cinemark Stock Up 2.7 %

Shares of CNK stock traded up $0.81 on Wednesday, reaching $30.47. 3,493,394 shares of the company were exchanged, compared to its average volume of 2,855,140. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark has a one year low of $13.19 and a one year high of $30.69. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.94 and a beta of 2.36. The company has a 50-day moving average of $28.09 and a 200-day moving average of $22.97.

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

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

A number of institutional investors and hedge funds have recently made changes to their positions in CNK. GAMMA Investing LLC increased its stake in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares during the last quarter. USA Financial Formulas purchased a new stake in Cinemark in the 3rd quarter valued at about $77,000. CWM LLC increased its stake in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Cinemark in the 2nd quarter valued at about $79,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Roth Mkm upped their price target on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Macquarie upped their price target on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a report on Tuesday, August 27th. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Barrington Research downgraded shares of Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.20.

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.