Traders Purchase High Volume of Put Options on Cinemark (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) was the recipient of unusually large options trading activity on Monday. Traders bought 5,122 put options on the stock. This represents an increase of approximately 91% compared to the average daily volume of 2,687 put options.

Analyst Upgrades and Downgrades

CNK has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Cinemark from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. B. Riley cut shares of Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price objective for the company. in a report on Tuesday, August 27th. Wedbush increased their price objective on shares of Cinemark from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Tuesday, September 3rd. The Goldman Sachs Group increased their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a "sell" rating in a report on Thursday, September 19th. Finally, Barrington Research cut shares of Cinemark from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cinemark currently has an average rating of "Moderate Buy" and a consensus target price of $28.10.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the transaction, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. Easterly Investment Partners LLC increased its stake in shares of Cinemark by 1.1% during the 1st quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company's stock worth $8,839,000 after purchasing an additional 5,236 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Cinemark by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company's stock worth $1,664,000 after purchasing an additional 1,345 shares during the last quarter. Mitchell Capital Management Co. increased its stake in shares of Cinemark by 3.0% during the 1st quarter. Mitchell Capital Management Co. now owns 395,801 shares of the company's stock worth $7,113,000 after purchasing an additional 11,443 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Cinemark during the 1st quarter worth $1,865,000. Finally, Sei Investments Co. increased its stake in shares of Cinemark by 38.1% during the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company's stock worth $2,069,000 after purchasing an additional 31,739 shares during the last quarter.

Cinemark Trading Up 2.3 %

Shares of NYSE:CNK traded up $0.65 during mid-day trading on Monday, hitting $29.34. The stock had a trading volume of 2,906,495 shares, compared to its average volume of 2,849,929. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The company has a market cap of $3.59 billion, a PE ratio of 20.34, a P/E/G ratio of 1.94 and a beta of 2.36. Cinemark has a 12-month low of $13.19 and a 12-month high of $29.87. The company's 50 day moving average is $28.00 and its 200-day moving average is $22.81.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm's quarterly revenue was down 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, sell-side analysts predict that Cinemark will post 1.41 EPS for the current year.

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.