Stock Traders Purchase Large Volume of Cinemark Put Options (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) saw some unusual options trading activity on Friday. Investors purchased 6,694 put options on the stock. This is an increase of 226% compared to the typical daily volume of 2,051 put options.

Wall Street Analyst Weigh In

CNK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Morgan Stanley cut their price target on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Benchmark decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company lowered their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Barrington Research reiterated an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Trading Down 1.1 %

Shares of CNK opened at $26.14 on Friday. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 12.88 and a beta of 2.41. The firm has a 50 day simple moving average of $27.90 and a 200-day simple moving average of $29.50.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. During the same period in the previous year, the business posted ($0.15) EPS. The business’s quarterly revenue was up 27.5% on a year-over-year basis. Equities analysts forecast that Cinemark will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently announced a — dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the transaction, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Cinemark by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock worth $387,408,000 after buying an additional 109,179 shares in the last quarter. Candlestick Capital Management LP boosted its position in Cinemark by 48.1% during the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after acquiring an additional 1,601,537 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock worth $127,159,000 after acquiring an additional 2,054,579 shares during the period. Renaissance Technologies LLC raised its holdings in Cinemark by 12.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock valued at $117,773,000 after acquiring an additional 430,006 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Cinemark by 14.5% during the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company’s stock worth $96,807,000 after purchasing an additional 396,720 shares during the period.

About Cinemark

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.