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

Cinemark Holdings, Inc. (NYSE:CNK) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 21,620,000 shares, a decline of 8.6% from the August 15th total of 23,650,000 shares. Currently, 19.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,940,000 shares, the short-interest ratio is currently 7.4 days.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CNK shares. Wedbush boosted their price objective on Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Roth Capital raised Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Benchmark reaffirmed a “buy” rating and set a $23.00 target price on shares of Cinemark in a research note on Monday, July 1st. Morgan Stanley upped their target price on Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.20.

Cinemark Trading Up 0.1 %

NYSE:CNK traded up $0.02 during midday trading on Wednesday, hitting $28.62. The stock had a trading volume of 1,806,068 shares, compared to its average volume of 2,943,887. The stock has a 50-day moving average of $25.62 and a 200 day moving average of $20.92. 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 capitalization of $3.50 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 2.12 and a beta of 2.36. Cinemark has a one year low of $13.19 and a one year high of $29.07.

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. The company had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. Cinemark’s revenue was down 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, sell-side analysts forecast that Cinemark will post 1.33 EPS for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Trading of Cinemark

A number of hedge funds have recently bought and sold shares of the stock. Third Point LLC purchased a new stake in Cinemark during the first quarter worth $89,850,000. Dimensional Fund Advisors LP lifted its holdings in shares of Cinemark by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after purchasing an additional 148,076 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Cinemark by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after purchasing an additional 35,993 shares during the last quarter. Steadfast Capital Management LP purchased a new stake in shares of Cinemark during the 1st quarter valued at $29,323,000. Finally, Hennessy Advisors Inc. lifted its holdings in shares of Cinemark by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 234,400 shares during the last quarter.

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.