Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Grows By 6.0%

Cinemark Holdings, Inc. (NYSE:CNK) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 2,510,000 shares, the short-interest ratio is currently 9.7 days. Approximately 22.2% of the shares of the company are sold short.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the transaction, the insider now directly owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This represents a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently bought and sold shares of CNK. Franklin Resources Inc. increased its position in shares of Cinemark by 6.8% in the third quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock worth $1,651,000 after acquiring an additional 3,632 shares in the last quarter. Castellan Group acquired a new stake in shares of Cinemark in the third quarter valued at about $6,130,000. Geode Capital Management LLC lifted its position in Cinemark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after acquiring an additional 25,857 shares in the last quarter. Luxor Capital Group LP boosted its holdings in Cinemark by 2.9% in the 3rd quarter. Luxor Capital Group LP now owns 102,200 shares of the company’s stock worth $2,845,000 after acquiring an additional 2,905 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Cinemark in the third quarter valued at approximately $474,000.

Analysts Set New Price Targets

Several brokerages have weighed in on CNK. Wells Fargo & Company upped their target price on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group lifted their price objective on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. Roth Mkm upped their target price on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Macquarie raised their price target on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Trading Down 1.9 %

Shares of CNK stock traded down $0.61 during mid-day trading on Tuesday, hitting $31.56. 1,963,822 shares of the company’s stock were exchanged, compared to its average volume of 2,829,965. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.66 and a beta of 2.38. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $36.28. The stock has a 50-day simple moving average of $31.38 and a two-hundred day simple moving average of $26.56.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. During the same period in the prior year, the firm posted $0.61 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts expect that Cinemark will post 2 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.