Cinemark Holdings, Inc. (NYSE:CNK) Sees Significant Increase in Short Interest

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) was the target of a significant 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. Currently, 22.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,510,000 shares, the days-to-cover ratio is currently 9.7 days.

Insiders Place Their Bets

In related news, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the transaction, the insider now owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CNK. Quarry LP lifted its position in shares of Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company's stock valued at $42,000 after acquiring an additional 1,308 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock valued at $56,000 after acquiring an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock valued at $68,000 after acquiring an additional 877 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Cinemark in the third quarter valued at approximately $77,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Cinemark in the second quarter valued at approximately $79,000.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley lifted their price objective on Cinemark from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Wells Fargo & Company boosted their price target on Cinemark from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. Roth Mkm boosted their price target on Cinemark from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. B. Riley downgraded Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price target for the company. in a research note on Tuesday, August 27th. Finally, The Goldman Sachs Group boosted their price target on Cinemark from $16.00 to $20.00 and gave the company a "sell" rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cinemark has a consensus rating of "Moderate Buy" and a consensus target price of $32.80.

Cinemark Stock Down 1.9 %

Shares of NYSE CNK traded down $0.61 during mid-day trading on Tuesday, reaching $31.56. 1,963,822 shares of the company were exchanged, compared to its average volume of 2,829,965. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.66 and a beta of 2.38. Cinemark has a 1 year low of $13.19 and a 1 year high of $36.28. The firm has a 50-day moving average of $31.38 and a 200 day moving average of $26.56.

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

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.

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