Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Increases By 7.6%

Cinemark Holdings, Inc. (NYSE:CNK) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 28,060,000 shares, a growth of 7.6% from the May 31st total of 26,090,000 shares. Based on an average daily volume of 2,920,000 shares, the days-to-cover ratio is presently 9.6 days. Currently, 25.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently modified their holdings of CNK. NBC Securities Inc. raised its stake in Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after buying an additional 700 shares in the last quarter. Virtu Financial LLC bought a new stake in Cinemark during the fourth quarter valued at about $192,000. Mackenzie Financial Corp purchased a new position in Cinemark in the fourth quarter valued at about $210,000. Watershed Asset Management L.L.C. grew its stake in Cinemark by 6.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after purchasing an additional 915 shares during the last quarter. Finally, Algert Global LLC bought a new position in Cinemark in the third quarter worth about $222,000.

Analyst Ratings Changes

Several brokerages have recently issued reports on CNK. Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. Roth Mkm raised shares of Cinemark from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $26.00 in a research note on Monday, June 24th. Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research report on Monday. Finally, Wedbush reissued an “outperform” rating and issued a $25.00 price objective on shares of Cinemark in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.33.

Cinemark Trading Down 0.5 %

CNK opened at $21.31 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The stock’s fifty day moving average is $18.29 and its two-hundred day moving average is $16.86. The company has a market capitalization of $2.61 billion, a P/E ratio of 14.70, a PEG ratio of 2.00 and a beta of 2.36. Cinemark has a 52 week low of $13.19 and a 52 week high of $21.87.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts forecast that Cinemark will post 1.07 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.