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

Cinemark Holdings, Inc. (NYSE:CNK) was the target of a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 23,650,000 shares, a decrease of 11.0% from the July 31st total of 26,560,000 shares. Based on an average daily trading volume, of 2,940,000 shares, the short-interest ratio is presently 8.0 days. Approximately 21.6% of the shares of the company are short sold.

Insider Buying and Selling

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Cinemark during the 2nd quarter worth $79,000. Fifth Third Bancorp raised its position in shares of Cinemark by 414.4% during the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock valued at $97,000 after acquiring an additional 3,609 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the period. Finally, Point72 DIFC Ltd bought a new position in Cinemark during the second quarter worth about $144,000.

Cinemark Price Performance

NYSE:CNK traded up $0.20 on Tuesday, reaching $27.58. The stock had a trading volume of 734,372 shares, compared to its average volume of 2,977,492. The company has a market capitalization of $3.37 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 2.04 and a beta of 2.36. The stock has a fifty day moving average price of $23.97 and a 200-day moving average price of $19.96. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. Cinemark has a 1-year low of $13.19 and a 1-year high of $28.43.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. The firm had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business’s revenue was down 22.1% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. Research analysts forecast that Cinemark will post 1.35 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on CNK shares. Benchmark reiterated a “buy” rating and set a $23.00 target price on shares of Cinemark in a research note on Monday, July 1st. JPMorgan Chase & Co. raised their price objective on Cinemark from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Roth Capital upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Barrington Research cut shares of Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. Finally, Roth Mkm lifted their target price on shares of Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.20.

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.