Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Drops By 6.2%

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 24,060,000 shares, a decline of 6.2% from the January 15th total of 25,650,000 shares. Based on an average trading volume of 2,340,000 shares, the short-interest ratio is presently 10.3 days. Currently, 22.0% of the company's shares are short sold.

Institutional Investors Weigh In On Cinemark

Several large investors have recently modified their holdings of CNK. Arrowstreet Capital Limited Partnership raised its position in Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP increased its stake in Cinemark by 48.1% in the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock valued at $152,782,000 after purchasing an additional 1,601,537 shares during the period. Maverick Capital Ltd. raised its holdings in shares of Cinemark by 1,356.4% in the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company's stock valued at $42,255,000 after buying an additional 1,413,557 shares during the last quarter. Simcoe Capital Management LLC purchased a new stake in shares of Cinemark in the fourth quarter valued at about $37,763,000. Finally, Man Group plc acquired a new stake in shares of Cinemark during the fourth quarter worth about $28,040,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNK. Barrington Research reiterated an "outperform" rating and issued a $40.00 target price on shares of Cinemark in a report on Wednesday. Wells Fargo & Company decreased their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Macquarie reissued an "outperform" rating and issued a $35.00 target price on shares of Cinemark in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on Cinemark from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Wedbush reaffirmed a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.70.

Cinemark Stock Down 1.1 %

Shares of NYSE:CNK traded down $0.32 during trading on Friday, hitting $27.47. 4,297,576 shares of the company were exchanged, compared to its average volume of 2,861,287. The firm's 50 day moving average price is $30.33 and its 200-day moving average price is $29.75. Cinemark has a 12-month low of $15.74 and a 12-month high of $36.28. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.98 and a quick ratio of 0.96. The stock has a market capitalization of $3.36 billion, a P/E ratio of 13.53 and a beta of 2.38.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) 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 firm 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 revenue for the quarter was up 27.5% compared to the same quarter last year. On average, research analysts predict that Cinemark will post 1.98 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The company also recently disclosed a -- dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark's dividend payout ratio is currently 15.76%.

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.