Cinemark Holdings Inc (NYSE:CNK) Short Interest Update

Cinemark Holdings Inc (NYSE:CNK) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 12,451,651 shares, an increase of 16.4% from the February 12th total of 10,701,093 shares. Based on an average daily volume of 3,414,158 shares, the short-interest ratio is currently 3.6 days. Approximately 11.0% of the company’s stock are short sold. Approximately 11.0% of the company’s stock are short sold. Based on an average daily volume of 3,414,158 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research note on Monday, December 29th. Zacks Research raised Cinemark from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Barrington Research restated an “outperform” rating and set a $32.00 price objective on shares of Cinemark in a research note on Thursday, February 19th. Finally, Macquarie Infrastructure reduced their target price on Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Price Performance

Shares of NYSE:CNK opened at $26.76 on Wednesday. The company has a market cap of $3.09 billion, a PE ratio of 30.75 and a beta of 1.08. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The firm has a 50-day simple moving average of $25.33 and a 200 day simple moving average of $26.04. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.74.

Cinemark (NYSE:CNK) last issued its earnings results on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $776.30 million during the quarter, compared to analyst estimates of $778.41 million. Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, sell-side analysts anticipate that Cinemark will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Tuesday, March 3rd. Cinemark’s dividend payout ratio is presently 41.38%.

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the completion of the sale, the executive vice president owned 159,416 shares of the company’s stock, valued at approximately $4,152,786.80. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

A number of hedge funds have recently added to or reduced their stakes in CNK. Lavaca Capital LLC acquired a new stake in Cinemark in the fourth quarter worth about $133,045,000. Marshall Wace LLP raised its position in shares of Cinemark by 758.9% during the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock worth $135,729,000 after buying an additional 3,973,689 shares in the last quarter. Orbis Allan Gray Ltd lifted its stake in shares of Cinemark by 31.0% in the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock worth $349,946,000 after acquiring an additional 3,563,810 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Cinemark in the fourth quarter valued at approximately $55,296,000. Finally, Victory Capital Management Inc. increased its stake in shares of Cinemark by 12,759.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,026,245 shares of the company’s stock valued at $47,090,000 after acquiring an additional 2,010,488 shares during the period.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.